UBS Group Has Lowered Expectations for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its target price decreased by equities research analysts at UBS Group from $61.00 to $45.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s price objective would suggest a potential downside of 0.94% from the company’s previous close.

Several other brokerages have also recently commented on ALGT. The Goldman Sachs Group lifted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $125.00 to $90.00 in a research report on Wednesday, April 2nd. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Susquehanna reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday. Finally, TD Cowen boosted their price objective on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $71.00.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded down $1.12 during mid-day trading on Monday, hitting $45.43. The stock had a trading volume of 436,687 shares, compared to its average volume of 412,873. The firm has a market cap of $833.08 million, a PE ratio of -3.40 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a 50 day moving average of $72.05 and a two-hundred day moving average of $74.84. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. Research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently bought and sold shares of the business. Crews Bank & Trust purchased a new stake in Allegiant Travel in the 4th quarter worth $25,000. Jones Financial Companies Lllp increased its stake in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 442 shares during the last quarter. Signaturefd LLC lifted its position in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 138 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.