Susquehanna Issues Pessimistic Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its price target reduced by analysts at Susquehanna from $95.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price target points to a potential upside of 9.85% from the company’s previous close.

A number of other research analysts have also commented on ALGT. The Goldman Sachs Group increased their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Barclays lifted their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. TD Cowen lifted their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.60.

Allegiant Travel Stock Down 2.2 %

Shares of Allegiant Travel stock traded down $1.04 during trading on Monday, hitting $45.52. 174,019 shares of the stock traded hands, compared to its average volume of 411,747. The company has a fifty day moving average price of $72.05 and a two-hundred day moving average price of $74.84. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The stock has a market cap of $834.65 million, a P/E ratio of -3.40 and a beta of 1.57. 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 announced its quarterly earnings results 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%. Equities research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Allegiant Travel in the 4th quarter valued at $25,000. Jones Financial Companies Lllp lifted its stake in Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC boosted its holdings in Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.