Barclays Increases Allegiant Travel (NASDAQ:ALGT) Price Target to $60.00

Allegiant Travel (NASDAQ:ALGT) had its target price upped by Barclays from $52.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price would suggest a potential upside of 0.10% from the stock’s previous close.

ALGT has been the topic of a number of other research reports. UBS Group lifted their target price on Allegiant Travel from $52.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 26th. Evercore ISI lifted their target price on Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley lowered their price target on Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Susquehanna reissued a “neutral” rating and set a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Finally, Zacks Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $68.89.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $59.94 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10. The stock’s 50-day simple moving average is $58.55 and its 200 day simple moving average is $54.43. The company has a market cap of $1.10 billion, a P/E ratio of -3.76, a P/E/G ratio of 0.54 and a beta of 1.71. Allegiant Travel has a 52-week low of $39.80 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.40. The business had revenue of $689.40 million for the quarter, compared to the consensus estimate of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.Allegiant Travel’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750–1.750 EPS. As a group, sell-side analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Allegiant Travel by 489.1% during the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company’s stock worth $28,000 after acquiring an additional 450 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Allegiant Travel by 28.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after acquiring an additional 205 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Allegiant Travel by 376.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock worth $53,000 after acquiring an additional 817 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Allegiant Travel by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock worth $61,000 after acquiring an additional 407 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Allegiant Travel by 43.7% during the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after acquiring an additional 373 shares during the period. Institutional investors 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.