Allegiant Travel (NASDAQ:ALGT) Trading 15.2% Higher – Should You Buy?

Allegiant Travel Company (NASDAQ:ALGT)’s stock price rose 15.2% during mid-day trading on Wednesday . The stock traded as high as $66.97 and last traded at $66.8270. Approximately 169,431 shares traded hands during trading, a decline of 59% from the average daily volume of 415,454 shares. The stock had previously closed at $58.03.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several research reports. Susquehanna lifted their price target on Allegiant Travel from $50.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Evercore ISI lifted their price target on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Barclays lifted their price objective on Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Zacks Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.67.

Allegiant Travel Stock Up 20.8%

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 company has a market cap of $1.29 billion, a PE ratio of -4.39, a PEG ratio of 0.49 and a beta of 1.71. The firm has a fifty day simple moving average of $62.82 and a 200 day simple moving average of $56.76.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. The company had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. Equities research analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

Institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Allegiant Travel by 28.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after purchasing an additional 205 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Allegiant Travel by 376.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock worth $53,000 after purchasing an additional 817 shares during the period. GAMMA Investing LLC grew its holdings in shares of Allegiant Travel by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock worth $61,000 after purchasing an additional 407 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after purchasing an additional 373 shares during the period. Hedge funds and other 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.