Allegiant Travel (NASDAQ:ALGT) Given “Strong-Buy” Rating at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of Allegiant Travel (NASDAQ:ALGT) in a report released on Wednesday morning,Benzinga reports. Raymond James currently has a $80.00 target price on the transportation company’s stock, down from their prior target price of $90.00.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Bank of America cut their price target on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Barclays dropped their target price on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Susquehanna cut their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.20.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $54.39 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm’s fifty day simple moving average is $50.57 and its 200 day simple moving average is $72.84. The stock has a market cap of $992.89 million, a P/E ratio of -4.07 and a beta of 1.78. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.54 by $0.27. The business had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. Allegiant Travel’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. As a group, research analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Crews Bank & Trust bought a new position in shares of Allegiant Travel in the fourth quarter worth about $25,000. Farther Finance Advisors LLC raised its position in shares of Allegiant Travel by 489.1% during the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 450 shares during the period. Jones Financial Companies Lllp boosted its holdings in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares during the period. Sterling Capital Management LLC increased its stake in Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after buying an additional 442 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 138 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.