Allegiant Travel (NASDAQ:ALGT) Given New $87.00 Price Target at Morgan Stanley

Allegiant Travel (NASDAQ:ALGT) had its price objective trimmed by Morgan Stanley from $95.00 to $87.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

ALGT has been the subject of several other research reports. Barclays lowered their price target on Allegiant Travel from $60.00 to $55.00 and set an equal weight rating for the company in a research note on Thursday, May 9th. Susquehanna cut their price target on Allegiant Travel from $76.00 to $65.00 and set a neutral rating for the company in a report on Tuesday, April 9th. UBS Group initiated coverage on Allegiant Travel in a report on Wednesday, March 20th. They set a sell rating and a $58.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a buy rating to a hold rating and cut their target price for the company from $75.00 to $53.00 in a research note on Monday. Finally, TD Cowen cut their target price on Allegiant Travel from $65.00 to $60.00 and set a hold rating for the company in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $72.25.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $49.09 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $51.65 and its two-hundred day moving average price is $65.41. Allegiant Travel has a 52 week low of $43.91 and a 52 week high of $130.93. The stock has a market cap of $895.01 million, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, sell-side analysts anticipate that Allegiant Travel will post 3.62 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s payout ratio is presently 75.95%.

Insider Transactions at Allegiant Travel

In related news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.00, for a total value of $248,400.00. Following the transaction, the executive vice president now owns 75,698 shares in the company, valued at $4,087,692. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Allegiant Travel news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the transaction, the executive vice president now owns 75,698 shares in the company, valued at $4,087,692. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the transaction, the chief marketing officer now owns 64,812 shares in the company, valued at approximately $3,479,108.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,037 shares of company stock worth $1,395,948. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds have recently modified their holdings of the business. CWM LLC raised its position in Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Allegiant Travel by 7.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after purchasing an additional 553 shares during the period. Interval Partners LP bought a new stake in Allegiant Travel in the 1st quarter valued at $5,641,000. PAX Financial Group LLC bought a new stake in Allegiant Travel in the 1st quarter valued at $620,000. Finally, Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 106.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after acquiring an additional 159,892 shares in the last quarter. Institutional investors and hedge funds 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.