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

Shares of Allegiant Travel (NASDAQ:ALGT) have been assigned an average rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $80.10.

Several research analysts recently commented on ALGT shares. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. UBS Group started coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. Morgan Stanley boosted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Bank of America boosted their target price on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research report on Friday, January 17th. Finally, StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th.

Insider Activity

In other news, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the sale, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new stake in Allegiant Travel during the fourth quarter worth $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Allegiant Travel during the fourth quarter worth $655,000. Voloridge Investment Management LLC purchased a new stake in Allegiant Travel during the fourth quarter worth $16,713,000. Woodline Partners LP purchased a new stake in Allegiant Travel during the fourth quarter worth $5,372,000. Finally, ProShare Advisors LLC purchased a new stake in Allegiant Travel during the fourth quarter worth $438,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Trading Down 5.0 %

NASDAQ ALGT opened at $81.64 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.50 billion, a PE ratio of -6.11 and a beta of 1.63. The company has a 50 day moving average price of $93.51 and a 200 day moving average price of $70.95. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, sell-side analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

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.