Allegiant Travel (NASDAQ:ALGT) Receives Consensus Rating of “Hold” from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $89.75.

ALGT has been the subject of several recent research reports. TD Cowen raised their price objective on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, February 6th. Raymond James lowered their price target on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Susquehanna lowered their price target on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. UBS Group initiated 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. Finally, Barclays lowered their price target on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, April 5th.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the completion of the sale, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

A number of large investors have recently made changes to their positions in ALGT. GAMMA Investing LLC bought a new stake in shares of Allegiant Travel during the 4th quarter valued at about $28,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Allegiant Travel during the 3rd quarter valued at about $73,000. Tradewinds Capital Management LLC purchased a new position in shares of Allegiant Travel during the 4th quarter valued at about $83,000. Commerce Bank purchased a new position in shares of Allegiant Travel during the 4th quarter valued at about $201,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Allegiant Travel during the 4th quarter valued at about $208,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $62.21 on Tuesday. The stock has a fifty day moving average of $70.87 and a 200 day moving average of $72.98. Allegiant Travel has a 52 week low of $54.87 and a 52 week high of $130.93. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.07 and a beta of 1.58. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. During the same quarter last year, the firm posted $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Allegiant Travel will post 4.83 earnings per share for the current year.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 annualized dividend and a yield of 3.86%. Allegiant Travel’s payout ratio is 37.97%.

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.