Analysts Set Allegiant Travel (NASDAQ:ALGT) Price Target at $86.00

Allegiant Travel (NASDAQ:ALGT) has received a consensus recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has 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 1-year target price among brokerages that have issued a report on the stock in the last year is $86.00.

ALGT has been the subject of several research reports. Susquehanna decreased their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. TD Cowen cut their price target on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, May 15th. Raymond James lowered their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Barclays cut their target price on Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Finally, UBS Group began coverage on Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the sale, the chief marketing officer now directly owns 64,812 shares in the company, valued at approximately $3,479,108.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the transaction, the chief marketing officer now directly owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Paul Wilson III sold 4,600 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the sale, the executive vice president now directly owns 75,698 shares of the company’s stock, valued at approximately $4,087,692. The disclosure for this sale can be found here. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC purchased a new position in Allegiant Travel during the fourth quarter valued at approximately $83,000. SG Americas Securities LLC bought a new position in shares of Allegiant Travel in the first quarter worth approximately $141,000. Commerce Bank purchased a new stake in shares of Allegiant Travel in the fourth quarter worth $201,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Allegiant Travel during the 4th quarter valued at $208,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $48.10 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. Allegiant Travel has a twelve month low of $46.90 and a twelve month high of $130.93. The stock has a market cap of $876.86 million, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.63. The firm’s fifty day simple moving average is $61.00 and its 200 day simple moving average is $70.19.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, research analysts predict that Allegiant Travel will post 3.74 EPS for the current year.

Allegiant Travel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.99%. Allegiant Travel’s payout ratio is 75.95%.

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.