Allegiant Travel (NASDAQ:ALGT) Given New $52.00 Price Target at Barclays

Allegiant Travel (NASDAQ:ALGT) had its price objective lowered by Barclays from $60.00 to $52.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target points to a potential downside of 4.39% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley increased their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group upped their price target on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. UBS Group reduced their target price on shares of Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Raymond James reiterated a “strong-buy” rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday. Finally, Susquehanna lowered their price objective on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $65.20.

Allegiant Travel Stock Down 0.4 %

ALGT stock opened at $54.39 on Thursday. The company’s 50 day moving average is $50.57 and its two-hundred day moving average is $72.84. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a market cap of $992.89 million, a P/E ratio of -4.07 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.27. The business had revenue of $699.07 million during the quarter, compared to the consensus estimate of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Research analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 138 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after buying an additional 200 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the period. Finally, Crews Bank & Trust acquired a new position in shares of Allegiant Travel during the fourth quarter worth $25,000. Institutional investors and hedge funds own 85.81% 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, 2024, it operated a fleet of 126 Airbus A320 series aircraft.