Allegiant Travel (NASDAQ:ALGT) Trading 15.2% Higher – Should You Buy?

Allegiant Travel Company (NASDAQ:ALGT) shares traded up 15.2% during mid-day trading on Wednesday . The company traded as high as $66.97 and last traded at $66.8270. 169,431 shares changed hands during trading, a decline of 59% from the average session volume of 415,454 shares. The stock had previously closed at $58.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Bank of America increased their price target on Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a report on Wednesday, October 1st. Barclays increased their price target on Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, October 8th. Finally, UBS Group reaffirmed a “neutral” rating and set a $66.00 price target on shares of Allegiant Travel in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.67.

Allegiant Travel Trading Up 20.8%

The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. The business has a fifty day simple moving average of $62.82 and a 200 day simple moving average of $56.76. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -4.39, a P/E/G ratio of 0.49 and a beta of 1.71.

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

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its holdings in Allegiant Travel by 442.0% in the third quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 442 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Allegiant Travel by 28.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 205 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Allegiant Travel by 376.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 817 shares during the period. GAMMA Investing LLC lifted its holdings in Allegiant Travel by 58.1% in the second quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock valued at $61,000 after acquiring an additional 407 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Allegiant Travel by 119.2% during the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.