Allegiant Travel (NASDAQ:ALGT) Upgraded at Raymond James

Raymond James upgraded shares of Allegiant Travel (NASDAQ:ALGT) from an outperform rating to a strong-buy rating in a research report sent to investors on Wednesday, MarketBeat.com reports. Raymond James currently has $90.00 target price on the transportation company’s stock, down from their prior target price of $125.00.

Several other research firms have also recently commented on ALGT. Susquehanna raised their target price on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. UBS Group decreased their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Bank of America lifted their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research note on Friday, January 17th. Morgan Stanley increased their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, TD Cowen boosted their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.10.

Allegiant Travel Stock Performance

Shares of ALGT opened at $46.55 on Wednesday. The firm has a fifty day moving average of $72.05 and a 200-day moving average of $74.40. The company has a market cap of $853.63 million, a price-to-earnings ratio of -3.48 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. raised its holdings in shares of Allegiant Travel by 2.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company’s stock worth $95,856,000 after purchasing an additional 24,975 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Allegiant Travel by 16.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock worth $87,404,000 after buying an additional 131,561 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Allegiant Travel by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company’s stock valued at $70,421,000 after buying an additional 57,737 shares in the last quarter. State Street Corp lifted its position in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after acquiring an additional 14,852 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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, 2024, it operated a fleet of 126 Airbus A320 series aircraft.