Allegiant Travel (NASDAQ:ALGT) Given New $55.00 Price Target at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its target price raised by stock analysts at Susquehanna from $40.00 to $55.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price would indicate a potential downside of 2.93% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Barclays dropped their price objective 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. TD Cowen upped their price target on shares of Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Morgan Stanley reduced their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Finally, Evercore ISI lifted their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.13.

Allegiant Travel Stock Up 1.3 %

Shares of Allegiant Travel stock traded up $0.74 during midday trading on Wednesday, hitting $56.66. The company’s stock had a trading volume of 48,665 shares, compared to its average volume of 358,710. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $85.91. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $1.03 billion, a P/E ratio of 17.93, a PEG ratio of 6.10 and a beta of 1.65. The stock has a 50-day simple moving average of $44.51 and a 200-day simple moving average of $51.52.

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

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 1,699 shares of company stock valued at $77,350. Insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Allegiant Travel during the second quarter valued at about $34,000. CWM LLC boosted its stake in Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares during the period. Headlands Technologies LLC boosted its stake in Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares during the period. SG Americas Securities LLC acquired a new stake in Allegiant Travel in the 1st quarter valued at approximately $141,000. Finally, ProShare Advisors LLC increased its position in Allegiant Travel by 6.9% in the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after buying an additional 203 shares during the period. 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.