Allegiant Travel (NASDAQ:ALGT) Stock Breaks Above Fifty Day Moving Average – Should You Sell?

Allegiant Travel Company (NASDAQ:ALGT)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $75.44 and traded as high as $78.69. Allegiant Travel shares last traded at $76.58, with a volume of 642,497 shares traded.

Analyst Ratings Changes

ALGT has been the subject of several analyst reports. Barclays dropped their target price on Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 11th. Morgan Stanley raised their target price on Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. UBS Group upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $111.00 to $107.00 in a report on Sunday, September 13th. Raymond James Financial reissued a “strong-buy” rating and set a $110.00 price target on shares of Allegiant Travel in a research report on Wednesday, October 7th. Finally, Wall Street Zen lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.38.

Allegiant Travel Price Performance

The stock’s fifty day moving average price is $75.44 and its 200-day moving average price is $87.61. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 54.31, a P/E/G ratio of 0.25 and a beta of 1.55. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.27 by $0.92. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The firm had revenue of $943.49 million for the quarter, compared to analyst estimates of $982.70 million. During the same quarter in the previous year, the company earned $1.23 EPS. The business’s revenue for the quarter was up 36.8% compared to the same quarter last year. As a group, equities research analysts forecast that Allegiant Travel Company will post 5.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Oregon Public Employees Retirement Fund raised its position in Allegiant Travel by 7.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 5,500 shares of the transportation company’s stock valued at $417,000 after purchasing an additional 400 shares during the period. Summit Global Investments acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at $518,000. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 186.8% during the 3rd quarter. Signaturefd LLC now owns 1,408 shares of the transportation company’s stock worth $107,000 after purchasing an additional 917 shares during the period. Inspire Investing LLC grew its holdings in shares of Allegiant Travel by 47.4% during the 3rd quarter. Inspire Investing LLC now owns 8,472 shares of the transportation company’s stock worth $642,000 after purchasing an additional 2,725 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of Allegiant Travel by 4.7% during the 3rd quarter. Yousif Capital Management LLC now owns 6,290 shares of the transportation company’s stock worth $477,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.

Allegiant Air’s business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.