Allegiant Travel (NASDAQ:ALGT) Upgraded to Hold at Wall Street Zen

Allegiant Travel (NASDAQ:ALGT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other analysts have also weighed in on the company. Evercore ISI boosted their price objective on Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Zacks Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Bank of America raised their price objective on Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 1st. Barclays lifted their price objective on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Finally, UBS Group reissued a “neutral” rating and set a $87.00 target price (up from $66.00) on shares of Allegiant Travel in a report on Friday, December 12th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.55.

Allegiant Travel Trading Up 0.0%

ALGT opened at $84.66 on Friday. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $107.57. 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 capitalization of $1.55 billion, a PE ratio of -5.19, a P/E/G ratio of 0.57 and a beta of 1.67. The firm’s fifty day moving average price is $73.36 and its 200 day moving average price is $63.05.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. The company had revenue of $496.88 million during the quarter. Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. As a group, research analysts expect that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP acquired a new stake in shares of Allegiant Travel in the 3rd quarter worth approximately $1,109,000. Jacobs Levy Equity Management Inc. raised its holdings in Allegiant Travel by 14.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 433,668 shares of the transportation company’s stock worth $26,354,000 after purchasing an additional 53,800 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Allegiant Travel by 37.9% in the third quarter. Dark Forest Capital Management LP now owns 45,325 shares of the transportation company’s stock worth $2,754,000 after purchasing an additional 12,462 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Allegiant Travel in the third quarter worth approximately $606,000. Finally, Millennium Management LLC boosted its stake in Allegiant Travel by 14.1% during the 3rd quarter. Millennium Management LLC now owns 27,319 shares of the transportation company’s stock valued at $1,660,000 after purchasing an additional 3,375 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.