Analysts Set Allegiant Travel (NASDAQ:ALGT) Price Target at $91.75

Shares of Allegiant Travel (NASDAQ:ALGTGet Free Report) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat reports. Two analysts have 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 1-year price objective among brokerages that have issued ratings on the stock in the last year is $91.75.

Several research analysts have commented on the stock. Raymond James cut their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Susquehanna decreased their target price on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. UBS Group assumed coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target for the company. Finally, TD Cowen raised their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th.

Read Our Latest Research Report on ALGT

Allegiant Travel Stock Performance

ALGT stock opened at $75.21 on Friday. The business has a 50 day moving average of $75.58 and a 200-day moving average of $74.57. The firm has a market cap of $1.38 billion, a PE ratio of 11.90, a P/E/G ratio of 0.89 and a beta of 1.58. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last issued its earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.52. The firm had revenue of $611.00 million for 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 business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 earnings per share. As a group, sell-side analysts expect that Allegiant Travel will post 6.75 earnings per share for the current year.

Allegiant Travel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, February 14th. Allegiant Travel’s dividend payout ratio is currently 37.97%.

Insider Buying and Selling at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now directly owns 8,490 shares of the company’s stock, valued at approximately $671,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter valued at $31,000. Castleview Partners LLC purchased a new position in shares of Allegiant Travel during the 2nd quarter valued at $44,000. US Bancorp DE boosted its holdings in Allegiant Travel by 69.8% in the 4th quarter. US Bancorp DE now owns 574 shares of the transportation company’s stock worth $47,000 after buying an additional 236 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in Allegiant Travel by 32.3% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

(Get Free Report

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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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