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

Shares of Allegiant Travel (NASDAQ:ALGT) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $86.00.

Several analysts have recently commented on the stock. Raymond James reduced their target price on shares of 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 cut their price target on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Susquehanna cut their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Barclays cut their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Finally, UBS Group assumed coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company.

Allegiant Travel Stock Up 0.8 %

Shares of NASDAQ:ALGT opened at $49.44 on Friday. The stock has a market cap of $901.29 million, a P/E ratio of 15.65, a P/E/G ratio of 1.30 and a beta of 1.63. The firm has a fifty day moving average price of $61.77 and a 200 day moving average price of $70.44. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. Allegiant Travel has a 1-year low of $48.41 and a 1-year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last released 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 net margin of 2.26% and a return on equity of 0.50%. The company had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. During the same quarter last year, the business earned $3.04 EPS. The business’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts predict that Allegiant Travel will post 3.74 EPS for the current year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.60 per share. 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 (DPR) is currently 75.95%.

Insider Buying and Selling at Allegiant Travel

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

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently modified their holdings of the stock. Interval Partners LP acquired a new stake in shares of Allegiant Travel in the first quarter worth approximately $5,641,000. PAX Financial Group LLC acquired a new stake in shares of Allegiant Travel in the first quarter worth approximately $620,000. Donald Smith & CO. Inc. boosted its position in shares of Allegiant Travel by 106.7% in the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after acquiring an additional 159,892 shares during the last quarter. Vanguard Group Inc. lifted its position in Allegiant Travel by 2.3% during 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. Finally, First Eagle Investment Management LLC lifted its position in Allegiant Travel by 57.5% during the first quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock valued at $7,785,000 after buying an additional 37,800 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.