Raymond James Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $100.00

Allegiant Travel (NASDAQ:ALGTFree Report) had its target price trimmed by Raymond James from $110.00 to $100.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

Several other brokerages have also recently commented on ALGT. StockNews.com cut shares of Allegiant Travel from a hold rating to a sell rating in a research report on Monday, November 6th. Barclays dropped their price target on shares of Allegiant Travel from $75.00 to $65.00 and set an equal weight rating on the stock in a research note on Monday, November 6th. Morgan Stanley lowered their price objective on shares of Allegiant Travel from $100.00 to $95.00 and set an equal weight rating on the stock in a research note on Tuesday, November 7th. TD Cowen raised their price objective on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a market perform rating in a research note on Tuesday. Finally, Susquehanna reduced their target price on shares of Allegiant Travel from $120.00 to $80.00 and set a neutral rating for the company in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $97.14.

Check Out Our Latest Research Report on Allegiant Travel

Allegiant Travel Stock Up 7.4 %

Shares of Allegiant Travel stock opened at $78.50 on Tuesday. The company has a fifty day moving average price of $78.17 and a 200 day moving average price of $81.72. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 1.50. Allegiant Travel has a twelve month low of $54.87 and a twelve month high of $130.93. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 8.42 and a beta of 1.61.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last posted its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. The company had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $596.42 million. Allegiant Travel had a net margin of 6.71% and a return on equity of 8.15%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $3.17 EPS. Equities research analysts forecast that Allegiant Travel will post 6.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new stake in Allegiant Travel in the 2nd quarter worth approximately $44,000. GAMMA Investing LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at $28,000. Lazard Asset Management LLC bought a new position in shares of Allegiant Travel during the 3rd quarter valued at $31,000. State of Wyoming raised its holdings in shares of Allegiant Travel by 38.8% during the 2nd quarter. State of Wyoming now owns 691 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 193 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Allegiant Travel by 82.9% during the 1st quarter. Captrust Financial Advisors now owns 812 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

Allegiant Travel Company Profile

(Get Free Report)

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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