Allegiant Travel’s (ALGT) “Strong-Buy” Rating Reiterated at Raymond James

Raymond James restated their strong-buy rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $80.00 target price on the transportation company’s stock, down from their previous target price of $90.00.

Other research analysts also recently issued research reports about the company. Barclays reduced their price objective on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Susquehanna dropped their price objective on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Morgan Stanley raised their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group cut their price target on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.20.

Allegiant Travel Stock Performance

Shares of ALGT opened at $54.39 on Wednesday. The firm has a market capitalization of $992.89 million, a P/E ratio of -4.07 and a beta of 1.78. Allegiant Travel has a 52 week low of $36.09 and a 52 week high of $107.57. The stock has a 50 day moving average price of $50.57 and a two-hundred day moving average price of $72.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The business had revenue of $699.07 million for the quarter, compared to analysts’ expectations of $700.00 million. During the same period last year, the business earned $0.57 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Allegiant Travel during the fourth quarter valued at about $26,067,000. Emerald Advisers LLC bought a new position in Allegiant Travel during the 4th quarter worth approximately $22,256,000. Federated Hermes Inc. bought a new stake in Allegiant Travel in the first quarter valued at approximately $9,864,000. Voloridge Investment Management LLC purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $16,713,000. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Allegiant Travel in the fourth quarter worth approximately $13,830,000. Hedge funds and other institutional investors 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.