Allegiant Travel (NASDAQ:ALGT) PT Lowered to $60.00 at Evercore ISI

Allegiant Travel (NASDAQ:ALGT) had its price target lowered by Evercore ISI from $85.00 to $60.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an in-line rating on the transportation company’s stock.

Several other research firms have also commented on ALGT. Morgan Stanley reduced their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an equal weight rating on the stock in a research report on Monday, July 8th. TD Cowen decreased their price objective on Allegiant Travel from $65.00 to $60.00 and set a hold rating for the company in a research note on Wednesday, May 15th. UBS Group started coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They issued a sell rating and a $58.00 price target for the company. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a buy rating to a hold rating and decreased their target price for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Finally, Barclays decreased their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $62.13.

Allegiant Travel Trading Down 1.3 %

Shares of NASDAQ:ALGT opened at $51.97 on Monday. The business has a 50-day moving average price of $51.37 and a 200-day moving average price of $64.37. The stock has a market cap of $947.41 million, a price-to-earnings ratio of 16.45, a PEG ratio of 1.86 and a beta of 1.66. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $129.89.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.04 EPS. Equities analysts predict that Allegiant Travel will post 3.46 EPS for the current year.

Allegiant Travel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.62%. Allegiant Travel’s payout ratio is currently 75.95%.

Insider Transactions at Allegiant Travel

In related news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the transaction, the chief marketing officer now owns 64,812 shares in the company, valued at approximately $3,479,108.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the sale, the chief marketing officer now directly owns 64,812 shares in the company, valued at approximately $3,479,108.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Paul Wilson III sold 750 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares in the company, valued at approximately $3,972,244. The disclosure for this sale can be found here. Insiders sold a total of 26,037 shares of company stock worth $1,395,948 in the last ninety days. Insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Allegiant Travel during the 4th quarter worth about $28,000. CWM LLC grew its position in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $83,000. SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel during the 1st quarter valued at $141,000. Finally, Commerce Bank acquired a new position in shares of Allegiant Travel in the fourth quarter worth $201,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.