Allegiant Travel (NASDAQ:ALGT) Given Average Recommendation of “Hold” by Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT) have been given a consensus rating of “Hold” by the nine research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $91.75.

ALGT has been the topic of several analyst reports. Susquehanna dropped their price objective on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. UBS Group initiated coverage on Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price objective on the stock. TD Cowen lifted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. Finally, Raymond James lowered their price target on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $75.21 on Friday. The stock’s 50 day moving average price is $75.58 and its 200 day moving average price is $74.82. The firm has a market capitalization of $1.38 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.86 and a beta of 1.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. Allegiant Travel has a one year low of $54.87 and a one year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $596.42 million. During the same period in the previous year, the company posted $3.17 EPS. Allegiant Travel’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Allegiant Travel will post 6.75 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently disclosed 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 of this dividend was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. Allegiant Travel’s payout ratio is currently 37.97%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Allegiant Travel by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company’s stock worth $382,578,000 after acquiring an additional 8,810 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Allegiant Travel by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,675,544 shares of the transportation company’s stock valued at $122,281,000 after buying an additional 20,482 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Allegiant Travel by 20.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,590,165 shares of the transportation company’s stock valued at $108,116,000 after buying an additional 271,378 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Allegiant Travel by 220.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock valued at $150,485,000 after buying an additional 915,511 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Allegiant Travel by 11.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 861,674 shares of the transportation company’s stock valued at $66,228,000 after buying an additional 90,496 shares during the period. 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.