Allegiant Travel (NASDAQ:ALGT) Receives Average Recommendation of “Hold” from Analysts

Allegiant Travel (NASDAQ:ALGT) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $89.75.

ALGT has been the topic of a number of recent research reports. TD Cowen boosted their target price on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. Barclays decreased their price target on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 5th. Raymond James decreased their price target on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Susquehanna decreased their price target on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Finally, UBS Group began coverage on Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target for the company.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $57.04 on Tuesday. The business’s 50-day moving average price is $69.15 and its two-hundred day moving average price is $72.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80. Allegiant Travel has a one year low of $54.87 and a one year high of $130.93. The company has a market capitalization of $1.04 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 1.00 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The firm had revenue of $611.00 million for the quarter, compared to the consensus estimate of $596.42 million. During the same quarter in the previous year, the company posted $3.17 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Analysts anticipate that Allegiant Travel will post 4.83 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 annualized dividend and a yield of 4.21%. Allegiant Travel’s payout ratio is 37.97%.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the completion of the transaction, the director now owns 8,490 shares of the company’s stock, valued at approximately $671,559. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Allegiant Travel in the 4th quarter valued at approximately $28,000. Counterpoint Mutual Funds LLC acquired a new position in Allegiant Travel in the 3rd quarter valued at approximately $73,000. Tradewinds Capital Management LLC acquired a new position in Allegiant Travel in the 4th quarter valued at approximately $83,000. Commerce Bank acquired a new position in Allegiant Travel in the 4th quarter valued at approximately $201,000. Finally, Everence Capital Management Inc. acquired a new position in Allegiant Travel in the 4th quarter valued at approximately $208,000. 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.