Bank of America Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $50.00

Allegiant Travel (NASDAQ:ALGT) had its price objective dropped by analysts at Bank of America from $95.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 7.41% from the company’s previous close.

A number of other equities analysts also recently commented on ALGT. Susquehanna boosted their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Raymond James upgraded Allegiant Travel from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $125.00 to $90.00 in a report on Wednesday. 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 note on Tuesday, December 17th. Finally, Barclays increased their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $78.10.

Allegiant Travel Price Performance

ALGT stock opened at $46.55 on Thursday. The business’s 50-day moving average is $72.05 and its two-hundred day moving average is $74.40. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market capitalization of $853.63 million, a P/E ratio of -3.48 and a beta of 1.57. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. Analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently modified their holdings of ALGT. Crews Bank & Trust purchased a new stake in Allegiant Travel in the 4th quarter valued at $25,000. Jones Financial Companies Lllp increased its stake in Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Allegiant Travel by 803.6% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after buying an additional 442 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

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.