TD Cowen Raises Allegiant Travel (NASDAQ:ALGT) Price Target to $42.00

Allegiant Travel (NASDAQ:ALGT) had its price target raised by TD Cowen from $33.00 to $42.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a hold rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a buy rating to a hold rating and reduced their target price for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Evercore ISI reduced their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an in-line rating on the stock in a report on Monday, July 15th. Morgan Stanley lowered their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an equal weight rating for the company in a research note on Monday, July 8th. Barclays reduced their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Finally, Susquehanna lowered their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a neutral rating for the company in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $61.25.

Allegiant Travel Trading Up 5.1 %

Shares of ALGT stock opened at $57.81 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. The company’s 50-day moving average price is $44.37 and its 200-day moving average price is $51.97. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 6.10 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. Allegiant Travel’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.35 EPS. As a group, equities analysts predict that Allegiant Travel will post 0.97 earnings per share for the current year.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares in the company, valued at approximately $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 1,699 shares of company stock valued at $77,350. 17.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Privium Fund Management UK Ltd boosted its stake in shares of Allegiant Travel by 77.7% in the 4th quarter. Privium Fund Management UK Ltd now owns 10,539 shares of the transportation company’s stock valued at $855,000 after buying an additional 4,607 shares during the period. Par Capital Management Inc. lifted its stake in Allegiant Travel by 1.4% in the fourth quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock worth $20,942,000 after acquiring an additional 3,500 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in Allegiant Travel by 5.7% in the first quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock worth $548,000 after acquiring an additional 392 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in Allegiant Travel by 39.8% in the first quarter. SeaCrest Wealth Management LLC now owns 5,025 shares of the transportation company’s stock worth $378,000 after acquiring an additional 1,430 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Allegiant Travel by 369.1% in the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after purchasing an additional 18,785 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.