Wall Street Zen Upgrades Allegiant Travel (NASDAQ:ALGT) to Hold

Allegiant Travel (NASDAQ:ALGT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Several other brokerages also recently issued reports on ALGT. Raymond James Financial downgraded shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $78.00 to $98.00 in a report on Friday, December 19th. Morgan Stanley raised their price target on Allegiant Travel from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Friday, December 12th. Zacks Research upgraded shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Finally, Bank of America raised their target price on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.55.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $84.65 on Friday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.19, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95. The business’s 50 day simple moving average is $73.73 and its 200-day simple moving average is $63.32. Allegiant Travel has a 12 month low of $39.80 and a 12 month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The firm had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. As a group, equities analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in shares of Allegiant Travel by 12.9% during the 2nd quarter. Federated Hermes Inc. now owns 215,531 shares of the transportation company’s stock valued at $11,843,000 after buying an additional 24,557 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Allegiant Travel in the 2nd quarter worth about $205,000. Jump Financial LLC raised its stake in Allegiant Travel by 195.5% during the 2nd quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock valued at $7,023,000 after purchasing an additional 84,555 shares during the period. Bayforest Capital Ltd lifted its position in shares of Allegiant Travel by 38.7% in the second quarter. Bayforest Capital Ltd now owns 15,714 shares of the transportation company’s stock worth $863,000 after purchasing an additional 4,381 shares in the last quarter. Finally, Caxton Associates LLP raised its holdings in shares of Allegiant Travel by 54.7% during the second quarter. Caxton Associates LLP now owns 36,488 shares of the transportation company’s stock worth $2,005,000 after acquiring an additional 12,898 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.