Allegiant Travel (NASDAQ:ALGT) Given Average Recommendation of “Hold” by Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT) have received an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $59.50.

ALGT has been the topic of several research analyst reports. Barclays cut their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen lowered their target price on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Evercore ISI dropped their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price target for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Finally, Susquehanna dropped their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th.

Allegiant Travel Stock Down 0.9 %

Shares of Allegiant Travel stock opened at $42.08 on Monday. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $90.25. The company has a 50 day moving average of $46.07 and a 200 day moving average of $56.95. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $767.20 million, a P/E ratio of 13.32, a P/E/G ratio of 2.06 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. During the same quarter in the previous year, the firm posted $4.35 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. As a group, research analysts forecast that Allegiant Travel will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,153 shares of company stock worth $100,536. 17.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Allegiant Travel during the 4th quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of Allegiant Travel in the 2nd quarter valued at $34,000. CWM LLC grew its stake in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares during the period. Headlands Technologies LLC raised its position in shares of Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after buying an additional 1,590 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Allegiant Travel during the first quarter worth about $141,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

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.