Brokerages Set Allegiant Travel (NASDAQ:ALGT) Price Target at $86.00

Allegiant Travel (NASDAQ:ALGT) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $86.00.

ALGT has been the subject of several research analyst reports. Barclays reduced their target price on Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Susquehanna reduced their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Raymond James reduced their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. TD Cowen reduced their target price 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. Finally, UBS Group initiated coverage on Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price for the company.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the transaction, the chief marketing officer now directly owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Robert Paul Wilson III sold 4,600 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the sale, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the sale, the chief marketing officer now directly owns 64,812 shares in the company, valued at $3,479,108.16. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after buying an additional 38,612 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Allegiant Travel by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after buying an additional 98,662 shares in the last quarter. U S Global Investors Inc. boosted its stake in shares of Allegiant Travel by 23.4% during the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after purchasing an additional 122,844 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Allegiant Travel by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after purchasing an additional 82,813 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Allegiant Travel by 106.7% during the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after purchasing an additional 159,892 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Up 0.8 %

NASDAQ:ALGT opened at $49.44 on Friday. The firm has a market capitalization of $901.29 million, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.30 and a beta of 1.63. Allegiant Travel has a twelve month low of $48.41 and a twelve month high of $130.93. The stock’s 50 day moving average price is $61.77 and its two-hundred day moving average price is $70.44. 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 (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The company had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same period in the previous year, the company posted $3.04 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts expect that Allegiant Travel will post 3.74 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.60 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.85%. Allegiant Travel’s dividend payout ratio is presently 75.95%.

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.