Allegiant Travel (NASDAQ:ALGT) Shares Gap Up to $43.06

Allegiant Travel (NASDAQ:ALGT)’s share price gapped up before the market opened on Friday . The stock had previously closed at $43.06, but opened at $44.16. Allegiant Travel shares last traded at $44.34, with a volume of 65,225 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Susquehanna decreased their target price on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Morgan Stanley decreased their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, TD Cowen decreased their price objective on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Two research 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. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $59.50.

Allegiant Travel Trading Up 3.6 %

The firm has a 50 day simple moving average of $44.00 and a 200 day simple moving average of $53.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The firm has a market cap of $813.69 million, a P/E ratio of 13.85, a P/E/G ratio of 5.50 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. During the same quarter last year, the company earned $4.35 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts predict that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Allegiant Travel

Large investors have recently modified their holdings of the business. Interval Partners LP bought a new stake in shares of Allegiant Travel during the 1st quarter valued at about $5,641,000. Franklin Resources Inc. boosted its position in shares of Allegiant Travel by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after acquiring an additional 82,813 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Allegiant Travel during the 1st quarter valued at about $1,306,000. First Eagle Investment Management LLC boosted its position in shares of Allegiant Travel by 57.5% during the 1st quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock valued at $7,785,000 after acquiring an additional 37,800 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Allegiant Travel by 369.1% during the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after acquiring an additional 18,785 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

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.