UBS Group Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $61.00

Allegiant Travel (NASDAQ:ALGT) had its price target decreased by investment analysts at UBS Group from $93.00 to $61.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s price target would indicate a potential upside of 10.99% from the stock’s previous close.

Other analysts have also issued reports about the company. Barclays lifted their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Bank of America lifted their price objective on Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research report on Friday, January 17th. TD Cowen boosted their target price on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Finally, Raymond James boosted their target price on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.60.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $54.96 on Thursday. The stock has a 50-day simple moving average of $81.94 and a 200 day simple moving average of $73.58. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.11 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, research analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Allegiant Travel in the 4th quarter valued at approximately $655,000. Voloridge Investment Management LLC bought a new stake in Allegiant Travel in the 4th quarter valued at approximately $16,713,000. Woodline Partners LP bought a new stake in Allegiant Travel in the 4th quarter valued at approximately $5,372,000. Finally, ProShare Advisors LLC bought a new stake in Allegiant Travel in the 4th quarter valued at approximately $438,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.