UBS Group Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $45.00

Allegiant Travel (NASDAQ:ALGT) had its price target decreased by UBS Group from $61.00 to $45.00 in a research note released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the transportation company’s stock.

ALGT has been the topic of several other research reports. Barclays raised their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised 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. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $125.00 to $90.00 in a report on Wednesday, April 2nd. Finally, TD Cowen boosted their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. One investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.00.

Allegiant Travel Stock Down 1.4 %

ALGT opened at $45.92 on Monday. The firm has a market cap of $842.08 million, a P/E ratio of -3.43 and a beta of 1.57. The business’s fifty day simple moving average is $70.88 and its 200 day simple moving average is $74.86. Allegiant Travel has a 52 week low of $36.09 and a 52 week high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently bought and sold shares of ALGT. Crews Bank & Trust acquired a new position in shares of Allegiant Travel during the 4th quarter valued at $25,000. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 223 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC boosted its position in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.