Allegiant Travel Company (NASDAQ:ALGT) Given Consensus Recommendation of “Hold” by Brokerages

Allegiant Travel Company (NASDAQ:ALGT) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $77.9091.

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Evercore ISI lifted their price target on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Finally, Susquehanna boosted their price target on Allegiant Travel from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently made changes to their positions in ALGT. Charles Schwab Investment Management Inc. grew its position in shares of Allegiant Travel by 10.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 337,120 shares of the transportation company’s stock worth $17,412,000 after buying an additional 32,478 shares in the last quarter. Invesco Ltd. boosted its stake in Allegiant Travel by 22.1% during the 1st quarter. Invesco Ltd. now owns 116,737 shares of the transportation company’s stock valued at $6,029,000 after acquiring an additional 21,094 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Allegiant Travel by 27.2% during the 1st quarter. Public Sector Pension Investment Board now owns 46,137 shares of the transportation company’s stock worth $2,383,000 after acquiring an additional 9,872 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Allegiant Travel by 694.8% in the 1st quarter. Russell Investments Group Ltd. now owns 15,133 shares of the transportation company’s stock worth $782,000 after purchasing an additional 13,229 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Allegiant Travel by 376.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 817 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Trading Up 2.0%

Shares of ALGT opened at $85.86 on Friday. Allegiant Travel has a 12 month low of $39.80 and a 12 month high of $107.57. The stock’s 50-day moving average is $68.85 and its two-hundred day moving average is $61.03. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95. The stock has a market cap of $1.57 billion, a PE ratio of -5.27, a P/E/G ratio of 0.58 and a beta of 1.67.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The business had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. Equities analysts forecast 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.