Allegiant Travel (NASDAQ:ALGT) Given Consensus Recommendation of “Buy” by Brokerages

Posted by on Jun 18th, 2022

Allegiant Travel (NASDAQ:ALGT – Get Rating) has been given an average recommendation of “Buy” by the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $234.63.

ALGT has been the subject of several analyst reports. StockNews.com initiated coverage on Allegiant Travel in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley dropped their price objective on Allegiant Travel to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, May 17th. Finally, Barclays dropped their price objective on Allegiant Travel from $275.00 to $220.00 in a report on Thursday, April 7th.

Shares of NASDAQ ALGT opened at $117.00 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 1.34. Allegiant Travel has a twelve month low of $110.44 and a twelve month high of $215.48. The stock has a 50 day moving average of $147.51 and a two-hundred day moving average of $163.13. The stock has a market cap of $2.12 billion, a P/E ratio of 14.96 and a beta of 1.47.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The transportation company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.22). Allegiant Travel had a return on equity of 7.66% and a net margin of 7.11%. The company had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $495.33 million. During the same quarter last year, the company earned ($3.58) EPS. Allegiant Travel’s revenue for the quarter was up 79.2% compared to the same quarter last year. As a group, research analysts predict that Allegiant Travel will post 5.48 earnings per share for the current year.

In related news, CMO Scott Wayne Deangelo sold 500 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $162.87, for a total transaction of $81,435.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Paul Wilson III sold 900 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $150.14, for a total value of $135,126.00. Following the transaction, the executive vice president now owns 14,963 shares in the company, valued at $2,246,544.82. The disclosure for this sale can be found here. 16.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Allegiant Travel in the 1st quarter worth about $155,000. Morgan Stanley raised its holdings in shares of Allegiant Travel by 146.2% in the 2nd quarter. Morgan Stanley now owns 196,844 shares of the transportation company’s stock worth $38,189,000 after purchasing an additional 116,891 shares during the period. Voya Investment Management LLC raised its holdings in shares of Allegiant Travel by 2.1% in the 3rd quarter. Voya Investment Management LLC now owns 10,104 shares of the transportation company’s stock worth $1,975,000 after purchasing an additional 207 shares during the period. Invesco Ltd. raised its holdings in shares of Allegiant Travel by 5.3% in the 3rd quarter. Invesco Ltd. now owns 35,179 shares of the transportation company’s stock worth $6,877,000 after purchasing an additional 1,779 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Allegiant Travel by 18.6% in the 3rd quarter. Royal Bank of Canada now owns 1,854 shares of the transportation company’s stock worth $362,000 after purchasing an additional 291 shares during the period. Hedge funds and other institutional investors own 98.49% of the company’s stock.

About Allegiant Travel (Get Rating)

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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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