TD Cowen Forecasts Strong Price Appreciation for Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT) had its price objective increased by analysts at TD Cowen from $35.00 to $50.00 in a report issued on Monday, MarketBeat reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target points to a potential downside of 14.30% from the stock’s current price.

A number of other research firms also recently weighed in on ALGT. UBS Group cut their target price on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Bank of America cut their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Susquehanna cut their target price on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Raymond James restated a “strong-buy” rating and issued a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $64.70.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $58.34 on Monday. 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 50 day simple moving average of $50.35 and a 200-day simple moving average of $72.85. The company has a market cap of $1.06 billion, a PE ratio of -4.36 and a beta of 1.78. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, topping 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 revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. On average, equities research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC lifted its position 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 during the last quarter. SeaCrest Wealth Management LLC raised its stake in Allegiant Travel by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after purchasing an additional 200 shares during the period. Jones Financial Companies Lllp raised its stake in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. GAMMA Investing LLC raised its stake in 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 purchasing an additional 236 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Allegiant Travel during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.