Allegiant Travel (NASDAQ:ALGT) PT Raised to $65.00

Allegiant Travel (NASDAQ:ALGT) had its price target hoisted by equities researchers at Evercore ISI from $60.00 to $65.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price target points to a potential upside of 12.44% from the company’s current price.

ALGT has been the subject of a number of other reports. Morgan Stanley decreased their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price target for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. 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 report on Wednesday, July 10th. TD Cowen upped their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday. Finally, Susquehanna lowered their price target on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.25.

Allegiant Travel Stock Up 5.1 %

NASDAQ:ALGT opened at $57.81 on Thursday. The company has a market cap of $1.05 billion, a PE ratio of 18.29, a PEG ratio of 6.10 and a beta of 1.65. The stock has a 50-day simple moving average of $44.27 and a 200 day simple moving average of $52.04. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data 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 business had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same quarter in the previous year, the firm posted $4.35 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares in the company, valued at $337,050. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,699 shares of company stock worth $77,350 over the last quarter. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Allegiant Travel in the second quarter valued at approximately $34,000. CWM LLC raised its position in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after acquiring an additional 930 shares in the last quarter. Headlands Technologies LLC lifted its stake 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 valued at $127,000 after purchasing an additional 1,590 shares during the period. SG Americas Securities LLC acquired a new stake in Allegiant Travel during the first quarter worth approximately $141,000. Finally, ProShare Advisors LLC lifted its stake in Allegiant Travel by 6.9% in the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after buying an additional 203 shares during the period. 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.