Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $65.00 by Analysts at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its price target lowered by Susquehanna from $76.00 to $65.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other research analysts have also recently commented on the stock. Barclays reduced their target price on shares of Allegiant Travel from $65.00 to $60.00 and set an equal weight rating for the company in a report on Friday, April 5th. UBS Group initiated coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a sell rating and a $58.00 target price for the company. TD Cowen increased their target price on shares of 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 cut their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an outperform rating for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Allegiant Travel has a consensus rating of Hold and an average target price of $89.75.

Allegiant Travel Stock Up 0.4 %

Shares of ALGT stock opened at $66.09 on Tuesday. The firm has a fifty day moving average of $73.78 and a 200-day moving average of $73.87. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 0.83 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last announced its 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 net margin of 4.54% and a return on equity of 3.80%. The business had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $596.42 million. During the same quarter in the prior year, the company posted $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts predict that Allegiant Travel will post 6.36 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Wednesday, February 14th. Allegiant Travel’s payout ratio is presently 37.97%.

Insider Activity

In other news, Director Gary Ellmer sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the transaction, the director now directly owns 8,490 shares of the company’s stock, valued at $671,559. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently modified their holdings of the stock. Castleview Partners LLC bought a new position in shares of Allegiant Travel in the second quarter valued at about $44,000. GAMMA Investing LLC bought a new position in Allegiant Travel during the fourth quarter worth about $28,000. Lazard Asset Management LLC bought a new position in Allegiant Travel during the third quarter worth about $31,000. US Bancorp DE increased its position in Allegiant Travel by 69.8% during the fourth quarter. US Bancorp DE now owns 574 shares of the transportation company’s stock worth $47,000 after acquiring an additional 236 shares during the period. Finally, State of Wyoming increased its position in Allegiant Travel by 38.8% during the second quarter. State of Wyoming now owns 691 shares of the transportation company’s stock worth $87,000 after acquiring an additional 193 shares during the period. 85.81% of the stock is owned by institutional investors.

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.