Allegiant Travel (NASDAQ:ALGT) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Allegiant Travel (NASDAQ:ALGT) from an in-line rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $75.00 price objective on the transportation company’s stock.

Other analysts have also recently issued research reports about the stock. Bank of America reduced their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. UBS Group increased their price target on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. TD Cowen increased their target price on Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. Finally, Susquehanna reduced their price target on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and a consensus price target of $64.70.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $59.98 on Tuesday. The stock’s 50-day moving average price is $53.83 and its 200 day moving average price is $67.47. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $1.09 billion, a PE ratio of -5.18, a price-to-earnings-growth ratio of 0.44 and a beta of 1.71. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The company had revenue of $699.07 million for the quarter, compared to the consensus estimate of $700.00 million. During the same period last year, the business posted $0.57 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

Several large investors have recently bought and sold shares of ALGT. Signaturefd LLC raised its stake in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Allegiant Travel by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company’s stock worth $829,000 after acquiring an additional 292 shares during the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Allegiant Travel by 6.6% in the first quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company’s stock valued at $286,000 after purchasing an additional 344 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Allegiant Travel by 1.1% in the fourth quarter. Legal & General Group Plc now owns 31,767 shares of the transportation company’s stock valued at $2,990,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds 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.