Barclays Trims Allegiant Travel (NASDAQ:ALGT) Target Price to $55.00

Allegiant Travel (NASDAQ:ALGT) had its price target cut by equities research analysts at Barclays from $60.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price suggests a potential upside of 1.08% from the stock’s previous close.

Several other research analysts have also recently issued reports on ALGT. Susquehanna cut their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. UBS Group assumed coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price on the stock. Raymond James cut their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Finally, TD Cowen boosted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average target price of $89.13.

Allegiant Travel Trading Up 2.5 %

ALGT stock traded up $1.35 during mid-day trading on Thursday, reaching $54.41. The company’s stock had a trading volume of 119,002 shares, compared to its average volume of 278,461. The company has a market cap of $991.89 million, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63. The business’s 50 day moving average price is $65.51 and its 200 day moving average price is $71.44. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12 month low of $51.13 and a 12 month high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 3.80% and a net margin of 4.54%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 earnings per share. On average, equities research analysts predict that Allegiant Travel will post 4.61 EPS for the current year.

Insider Buying and Selling

In other news, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the completion of the transaction, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its holdings in shares of Allegiant Travel by 2.0% in the 3rd quarter. Swiss National Bank now owns 10,128 shares of the transportation company’s stock worth $778,000 after purchasing an additional 200 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Allegiant Travel by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after acquiring an additional 203 shares during the period. GAMMA Investing LLC purchased a new stake in Allegiant Travel during the 4th quarter valued at about $28,000. 180 Wealth Advisors LLC boosted its holdings in Allegiant Travel by 5.7% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock valued at $548,000 after acquiring an additional 392 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Allegiant Travel by 13.0% during the 3rd quarter. Headlands Technologies LLC now owns 3,673 shares of the transportation company’s stock valued at $282,000 after acquiring an additional 423 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.