Allegiant Travel (NASDAQ:ALGT) Price Target Increased to $65.00 by Analysts at Evercore ISI

by · The Markets Daily

Allegiant Travel (NASDAQ:ALGT – Free Report) had its price target hoisted by Evercore ISI from $60.00 to $65.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an in-line rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on ALGT. TD Cowen upped their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a hold rating in a report on Thursday. Barclays reduced their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley reduced their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an equal weight rating for the company in a report on Monday, July 8th. Susquehanna cut their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a neutral rating on the stock in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a buy rating to a hold rating and cut their price target for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel presently has a consensus rating of Hold and a consensus target price of $61.25.

Get Our Latest Analysis on ALGT

Allegiant Travel Stock Up 5.1 %

ALGT opened at $57.81 on Thursday. The firm’s fifty day moving average is $44.37 and its 200 day moving average is $51.86. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 6.10 and a beta of 1.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. During the same quarter last year, the company earned $4.35 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Allegiant Travel will post 0.97 earnings per share for the current fiscal year.

Insider Activity

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 1,699 shares of company stock worth $77,350 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently bought and sold shares of the company. Interval Partners LP acquired a new stake in Allegiant Travel during the 1st quarter worth $5,641,000. Susquehanna Fundamental Investments LLC acquired a new stake in Allegiant Travel in the 1st quarter valued at about $1,306,000. First Eagle Investment Management LLC lifted its stake in Allegiant Travel by 57.5% in the 1st quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock worth $7,785,000 after purchasing an additional 37,800 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Allegiant Travel by 369.1% during the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock worth $1,796,000 after purchasing an additional 18,785 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of Allegiant Travel by 39.8% in the first quarter. SeaCrest Wealth Management LLC now owns 5,025 shares of the transportation company’s stock valued at $378,000 after purchasing an additional 1,430 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

About Allegiant Travel

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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.

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