Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $60.00 by Analysts at Barclays

Allegiant Travel (NASDAQ:ALGT) had its price objective lowered by investment analysts at Barclays from $65.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective would suggest a potential downside of 8.70% from the company’s current price.

ALGT has been the subject of a number of other reports. UBS Group began coverage on Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target for the company. Raymond James cut their price target 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. Susquehanna cut their price target on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Finally, TD Cowen raised their price target on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.13.

Allegiant Travel Stock Down 0.3 %

Shares of Allegiant Travel stock opened at $65.72 on Friday. The stock has a 50-day moving average price of $74.65 and a 200 day moving average price of $74.22. The company has a market cap of $1.20 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.83 and a beta of 1.58. 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 1 year low of $54.87 and a 1 year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.52. The firm had revenue of $611.00 million during the quarter, compared to the consensus estimate of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $3.17 EPS. As a group, analysts expect that Allegiant Travel will post 6.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Gary Ellmer sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now owns 8,490 shares of the company’s stock, valued at approximately $671,559. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.50% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Castleview Partners LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at approximately $44,000. GAMMA Investing LLC acquired a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $28,000. Lazard Asset Management LLC acquired a new stake in shares of Allegiant Travel during the 3rd quarter worth approximately $31,000. US Bancorp DE grew its holdings in shares of Allegiant Travel by 69.8% during the 4th quarter. US Bancorp DE now owns 574 shares of the transportation company’s stock worth $47,000 after purchasing an additional 236 shares in the last quarter. Finally, State of Wyoming boosted its stake in Allegiant Travel by 38.8% in the 2nd quarter. State of Wyoming now owns 691 shares of the transportation company’s stock valued at $87,000 after buying an additional 193 shares in the last quarter. 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.