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 ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $89.75.

A number of research firms recently issued reports on ALGT. UBS Group began coverage on Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price on the stock. Raymond James lowered their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Barclays lowered their target price on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. Susquehanna lowered their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Finally, TD Cowen lifted their target price on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, February 6th.

Insiders Place Their Bets

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now owns 8,490 shares of the company’s stock, valued at $671,559. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently made changes to their positions in ALGT. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel in the third quarter valued at approximately $640,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Allegiant Travel in the third quarter valued at approximately $73,000. U S Global Investors Inc. grew its position in shares of Allegiant Travel by 10.0% in the third quarter. U S Global Investors Inc. now owns 524,211 shares of the transportation company’s stock valued at $40,291,000 after purchasing an additional 47,531 shares during the last quarter. Strs Ohio acquired a new position in shares of Allegiant Travel in the third quarter valued at approximately $691,000. Finally, Oldfield Partners LLP grew its position in shares of Allegiant Travel by 31.6% in the third quarter. Oldfield Partners LLP now owns 31,200 shares of the transportation company’s stock valued at $2,398,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

ALGT opened at $57.04 on Tuesday. The business’s 50-day moving average price is $69.15 and its two-hundred day moving average price is $72.50. Allegiant Travel has a 1 year low of $54.87 and a 1 year high of $130.93. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 9.03, a P/E/G ratio of 1.00 and a beta of 1.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts expect that Allegiant Travel will post 4.83 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel’s dividend payout ratio (DPR) is presently 37.97%.

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.