Allegiant Travel (NASDAQ:ALGT) Receives $89.75 Average Price Target from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have received an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $89.75.

A number of analysts recently weighed in on ALGT shares. Raymond James lowered their price objective 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. Susquehanna dropped their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. UBS Group began coverage on Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company. Barclays dropped their price objective on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. Finally, TD Cowen lifted their target price on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th.

Insider Activity

In related news, Director Gary Ellmer sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the completion of the transaction, the director now owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Swiss National Bank increased its holdings in shares of Allegiant Travel by 2.0% during the 3rd quarter. Swiss National Bank now owns 10,128 shares of the transportation company’s stock valued at $778,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Allegiant Travel in the 4th quarter valued at $28,000. 180 Wealth Advisors LLC grew its stake in Allegiant Travel by 5.7% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock valued at $548,000 after acquiring an additional 392 shares during the period. Headlands Technologies LLC grew its position in shares of Allegiant Travel by 13.0% in the third quarter. Headlands Technologies LLC now owns 3,673 shares of the transportation company’s stock valued at $282,000 after purchasing an additional 423 shares during the period. Finally, Oldfield Partners LLP boosted its holdings in Allegiant Travel by 2.3% in the 1st quarter. Oldfield Partners LLP now owns 32,934 shares of the transportation company’s stock worth $2,477,000 after buying an additional 734 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Down 1.8 %

Shares of NASDAQ ALGT opened at $57.99 on Tuesday. The company has a market cap of $1.06 billion, a P/E ratio of 9.18, a PEG ratio of 1.06 and a beta of 1.58. The firm has a 50-day simple moving average of $69.63 and a two-hundred day simple moving average of $72.66. Allegiant Travel has a 1 year low of $54.87 and a 1 year high of $130.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The business had revenue of $611.00 million for the quarter, compared to the consensus estimate of $596.42 million. During the same period in the prior year, the firm earned $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts anticipate that Allegiant Travel will post 4.83 earnings per share for the current year.

Allegiant Travel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were issued a $0.60 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.14%. Allegiant Travel’s dividend payout ratio is currently 37.97%.

Allegiant Travel Company Profile

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.