Allegiant Travel (NASDAQ:ALGT) PT Lowered to $65.00 at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its price target cut by equities research analysts at Susquehanna from $76.00 to $65.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective points to a potential downside of 1.22% from the stock’s current price.

ALGT has been the subject of a number of other reports. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target for the company. Barclays reduced their price target on shares of Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday. Raymond James reduced their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Finally, TD Cowen upped their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Allegiant Travel has an average rating of “Hold” and an average price target of $89.75.

Allegiant Travel Trading Up 0.3 %

Shares of ALGT stock opened at $65.80 on Tuesday. The company’s fifty day simple moving average is $74.05 and its two-hundred day simple moving average is $73.94. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80. Allegiant Travel has a 1 year low of $54.87 and a 1 year high of $130.93. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.83 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. The business had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.17 EPS. As a group, analysts anticipate that Allegiant Travel will post 6.36 earnings per share for the current year.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the completion of the sale, the director now directly owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently modified their holdings of ALGT. GAMMA Investing LLC bought a new position in shares of Allegiant Travel during the fourth quarter valued at about $28,000. Lazard Asset Management LLC bought a new position in shares of Allegiant Travel during the third quarter valued at about $31,000. Castleview Partners LLC bought a new position in shares of Allegiant Travel during the second quarter valued at about $44,000. US Bancorp DE raised its stake in Allegiant Travel by 69.8% in the fourth quarter. US Bancorp DE now owns 574 shares of the transportation company’s stock worth $47,000 after buying an additional 236 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Allegiant Travel by 32.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares in the last quarter. 85.81% of the stock is owned by institutional investors.

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.