Brokerages Set Allegiant Travel Company (NASDAQ:ALGT) PT at $77.91

Allegiant Travel Company (NASDAQ:ALGT) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $77.9091.

Several analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Allegiant Travel from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Susquehanna raised their target price on Allegiant Travel from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Finally, Citigroup began coverage on Allegiant Travel in a research report on Thursday, December 4th. They issued a “neutral” rating and a $88.00 price target for the company.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its position in shares of Allegiant Travel by 4.9% in the third quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company’s stock valued at $228,000 after purchasing an additional 176 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after buying an additional 205 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Allegiant Travel by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,275 shares of the transportation company’s stock valued at $949,000 after buying an additional 338 shares during the last quarter. Inspire Investing LLC raised its holdings in Allegiant Travel by 5.0% in the 3rd quarter. Inspire Investing LLC now owns 7,451 shares of the transportation company’s stock worth $453,000 after acquiring an additional 357 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after acquiring an additional 373 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Trading Up 0.3%

NASDAQ ALGT opened at $85.74 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.76. Allegiant Travel has a 1-year low of $39.80 and a 1-year high of $107.57. The firm’s fifty day simple moving average is $70.79 and its 200-day simple moving average is $61.84. The company has a market capitalization of $1.57 billion, a PE ratio of -5.26, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67.

Allegiant Travel (NASDAQ:ALGT) last issued 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 5.24% and a negative net margin of 11.36%.The firm had revenue of $496.88 million for the quarter. As a group, sell-side analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.