Raymond James Boosts Allegiant Travel (NASDAQ:ALGT) Price Target to $290.00

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by analysts at Raymond James from $230.00 to $290.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price target suggests a potential upside of 25.29% from the stock’s previous close.

ALGT has been the subject of several other research reports. The Goldman Sachs Group lifted their target price on Allegiant Travel from $156.00 to $278.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 16th. Barclays raised their price target on Allegiant Travel from $237.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, April 15th. Wolfe Research raised Allegiant Travel from an “underweight” rating to a “market weight” rating and raised their price target for the stock from $200.00 to $238.00 in a report on Friday, March 5th. Bank of America downgraded Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Friday, January 8th. Finally, Cowen raised Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $214.00 price target on the stock in a report on Monday, January 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $231.40.

Shares of ALGT opened at $231.47 on Monday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -38.39 and a beta of 1.71. The stock has a 50 day moving average of $249.92 and a 200-day moving average of $193.06. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.99. Allegiant Travel has a 52 week low of $63.50 and a 52 week high of $271.29.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 2nd. The transportation company reported ($1.12) EPS for the quarter, topping the consensus estimate of ($2.44) by $1.32. The company had revenue of $246.56 million during the quarter, compared to analyst estimates of $245.48 million. Allegiant Travel had a negative return on equity of 8.83% and a negative net margin of 7.86%. The business’s revenue was down 46.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.72 EPS. On average, sell-side analysts predict that Allegiant Travel will post -10.54 earnings per share for the current fiscal year.

In other news, Director Gary Ellmer sold 450 shares of Allegiant Travel stock in a transaction on Friday, February 5th. The stock was sold at an average price of $220.10, for a total transaction of $99,045.00. Following the transaction, the director now directly owns 1,715 shares in the company, valued at approximately $377,471.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory Clark Anderson sold 3,270 shares of Allegiant Travel stock in a transaction on Friday, February 5th. The shares were sold at an average price of $216.11, for a total value of $706,679.70. Following the transaction, the chief financial officer now owns 29,795 shares in the company, valued at $6,438,997.45. The disclosure for this sale can be found here. Insiders have sold a total of 18,647 shares of company stock worth $4,045,560 in the last ninety days. 19.60% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Inspire Advisors LLC acquired a new position in shares of Allegiant Travel during the 4th quarter valued at $31,000. International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the 4th quarter valued at $38,000. Global Retirement Partners LLC acquired a new position in shares of Allegiant Travel during the 1st quarter valued at $49,000. Harbor Investment Advisory LLC increased its position in shares of Allegiant Travel by 120.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 262 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 143 shares during the period. Finally, Vantage Consulting Group Inc acquired a new position in shares of Allegiant Travel during the 4th quarter valued at $72,000. Institutional investors own 86.10% 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 12, 2021, it operated a fleet of 97 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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