Brokerages Set Allegiant Travel (NASDAQ:ALGT) Target Price at $89.75

Shares of Allegiant Travel (NASDAQ:ALGT) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two 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 12 month price target among brokers that have updated their coverage on the stock in the last year is $89.75.

Several equities analysts have weighed in on the stock. Susquehanna lowered their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. TD Cowen lifted their price target on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, February 6th. Barclays decreased their price objective on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, April 5th. UBS Group assumed coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price on the stock. Finally, Raymond James lowered their price objective on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th.

Insider Activity

In related news, Director Gary Ellmer sold 2,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $671,559. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.50% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in shares of Allegiant Travel during the fourth quarter worth approximately $28,000. Counterpoint Mutual Funds LLC bought a new stake in Allegiant Travel in the 3rd quarter valued at $73,000. Tradewinds Capital Management LLC bought a new position in shares of Allegiant Travel during the 4th quarter worth about $83,000. Commerce Bank bought a new position in shares of Allegiant Travel during the 4th quarter worth about $201,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Allegiant Travel in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $57.99 on Tuesday. Allegiant Travel has a 52-week low of $54.87 and a 52-week high of $130.93. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.06 and a beta of 1.58. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. The stock’s fifty day simple moving average is $69.63 and its 200 day simple moving average is $72.66.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share (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 the consensus estimate of $596.42 million. During the same quarter in the previous year, the company earned $3.17 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Allegiant Travel will post 4.83 earnings per share for the current fiscal year.

Allegiant Travel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a $0.60 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.14%. Allegiant Travel’s dividend payout ratio is currently 37.97%.

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.