Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $70.00 at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its target price increased by Susquehanna from $65.00 to $70.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other brokerages have also recently weighed in on ALGT. Zacks Research raised shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Evercore ISI boosted their target price on Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 29th. UBS Group upped their target price on Allegiant Travel from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.44.

Allegiant Travel Stock Down 0.8%

NASDAQ ALGT traded down $0.55 during trading on Friday, reaching $65.96. 289,971 shares of the company’s stock were exchanged, compared to its average volume of 416,979. Allegiant Travel has a 1 year low of $39.80 and a 1 year high of $107.57. The stock has a market cap of $1.21 billion, a P/E ratio of -4.14, a price-to-earnings-growth ratio of 0.49 and a beta of 1.77. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10. The company has a 50 day moving average price of $63.61 and a two-hundred day moving average price of $57.93.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The firm had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. On average, equities research analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently bought and sold shares of the company. Creative Planning grew its holdings in Allegiant Travel by 37.4% during the third quarter. Creative Planning now owns 9,498 shares of the transportation company’s stock valued at $577,000 after purchasing an additional 2,583 shares during the period. Man Group plc acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at $1,545,000. Shay Capital LLC acquired a new stake in Allegiant Travel during the 3rd quarter worth $231,000. Brooklyn Investment Group lifted its holdings in Allegiant Travel by 2,153.0% during the third quarter. Brooklyn Investment Group now owns 4,506 shares of the transportation company’s stock worth $274,000 after acquiring an additional 4,306 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Allegiant Travel by 98.9% in the third quarter. Two Sigma Investments LP now owns 129,512 shares of the transportation company’s stock valued at $7,870,000 after acquiring an additional 64,382 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.