Allegiant Travel (NASDAQ:ALGT) Hits New 52-Week Low at $54.81

Allegiant Travel (NASDAQ:ALGT)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $54.81 and last traded at $55.05, with a volume of 44954 shares changing hands. The stock had previously closed at $56.74.

Analysts Set New Price Targets

ALGT has been the topic of several research analyst reports. Susquehanna lowered their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Raymond James lowered their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. UBS Group initiated coverage on Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company. TD Cowen boosted their price target on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. Finally, Barclays lowered their price target on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.75.

Allegiant Travel Trading Down 1.6 %

The company has a market capitalization of $981.59 million, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.98 and a beta of 1.58. The business has a fifty day moving average price of $68.12 and a 200 day moving average price of $72.24. 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 (NASDAQ:ALGT) last issued its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52. The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 earnings per share. On average, equities analysts expect that Allegiant Travel will post 4.83 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.47%. Allegiant Travel’s payout ratio is 37.97%.

Insider Activity at Allegiant Travel

In related news, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction on 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 $671,559. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegiant Travel

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in Allegiant Travel in the fourth quarter valued at $28,000. Tradewinds Capital Management LLC bought a new stake in Allegiant Travel in the fourth quarter valued at $83,000. Commerce Bank bought a new stake in Allegiant Travel in the fourth quarter valued at $201,000. Everence Capital Management Inc. bought a new stake in Allegiant Travel in the fourth quarter valued at $208,000. Finally, Aigen Investment Management LP bought a new stake in Allegiant Travel in the fourth quarter valued at $213,000. 85.81% of the stock is currently 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.