Allegiant Travel (NASDAQ:ALGT – Get Free Report) had its target price boosted by equities researchers at TD Cowen from $82.00 to $85.00 in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage currently has a “market perform” rating on the transportation company’s stock. TD Cowen’s price objective suggests a potential upside of 11.46% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Barclays reduced their target price on shares of Allegiant Travel from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, November 6th. Raymond James decreased their target price on shares of Allegiant Travel from $118.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, December 13th. Susquehanna decreased their target price on shares of Allegiant Travel from $120.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, October 11th. StockNews.com cut shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Finally, Morgan Stanley decreased their target price on shares of Allegiant Travel from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.14.
Allegiant Travel Stock Performance
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its quarterly 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 firm 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 firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $3.17 EPS. Research analysts forecast that Allegiant Travel will post 8.13 EPS for the current fiscal year.
Institutional Investors Weigh In On Allegiant Travel
Several institutional investors and hedge funds have recently modified their holdings of ALGT. GAMMA Investing LLC acquired a new stake in shares of Allegiant Travel in the 4th quarter valued at $28,000. Lazard Asset Management LLC acquired a new stake in shares of Allegiant Travel in the third quarter worth $31,000. Castleview Partners LLC acquired a new stake in shares of Allegiant Travel in the second quarter worth $44,000. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Allegiant Travel in the third quarter worth $73,000. Institutional investors and hedge funds own 81.23% of the company’s stock.
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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.
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