Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $50.00 at TD Cowen

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by analysts at TD Cowen from $35.00 to $50.00 in a report released on Monday,Briefing.com Automated Import reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target suggests a potential downside of 14.46% from the company’s current price.

Several other equities research analysts have also recently commented on ALGT. Susquehanna cut their price target on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Bank of America reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. UBS Group cut their price target on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Morgan Stanley upped their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays cut their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $63.20.

Allegiant Travel Trading Up 7.3%

Shares of Allegiant Travel stock traded up $4.00 on Monday, reaching $58.45. The company had a trading volume of 221,267 shares, compared to its average volume of 427,045. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market cap of $1.07 billion, a PE ratio of -4.38 and a beta of 1.78. The firm’s 50 day moving average price is $50.57 and its two-hundred day moving average price is $72.97. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analysts’ expectations of $700.00 million. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Sell-side analysts predict that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALGT. Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. SeaCrest Wealth Management LLC lifted 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 purchasing an additional 200 shares in the last quarter. Jones Financial Companies Lllp lifted its position 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 worth $43,000 after purchasing an additional 223 shares in the last quarter. GAMMA Investing LLC grew its position in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 236 shares in the last quarter. Finally, Crews Bank & Trust purchased a new position in Allegiant Travel during the fourth quarter valued at approximately $25,000. 85.81% of the stock is 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.