Allegiant Travel (NASDAQ:ALGT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report issued on Sunday.

Several other research analysts have also recently issued reports on ALGT. Barclays upped their target price on shares of Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. UBS Group restated a “neutral” rating and issued a $87.00 price objective (up previously from $66.00) on shares of Allegiant Travel in a research note on Friday, December 12th. Evercore ISI raised their price objective on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Bank of America boosted their target price on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a report on Wednesday, October 1st. Finally, Morgan Stanley raised their price target on Allegiant Travel from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and an average price target of $79.55.

Allegiant Travel Trading Up 2.6%

NASDAQ:ALGT opened at $86.89 on Friday. Allegiant Travel has a 1 year low of $39.80 and a 1 year high of $107.57. The stock has a market cap of $1.59 billion, a P/E ratio of -5.33, a P/E/G ratio of 0.57 and a beta of 1.67. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.95 and a current ratio of 0.98. The stock has a 50-day simple moving average of $74.11 and a 200-day simple moving average of $63.58.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. The firm had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. As a group, analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP acquired a new stake in shares of Allegiant Travel in the 3rd quarter worth $1,109,000. Jacobs Levy Equity Management Inc. lifted its position in Allegiant Travel by 14.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 433,668 shares of the transportation company’s stock valued at $26,354,000 after purchasing an additional 53,800 shares during the period. Dark Forest Capital Management LP lifted its position in Allegiant Travel by 37.9% in the third quarter. Dark Forest Capital Management LP now owns 45,325 shares of the transportation company’s stock valued at $2,754,000 after purchasing an additional 12,462 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Allegiant Travel in the 3rd quarter valued at approximately $606,000. Finally, Millennium Management LLC increased its position in Allegiant Travel by 14.1% during the 3rd quarter. Millennium Management LLC now owns 27,319 shares of the transportation company’s stock worth $1,660,000 after purchasing an additional 3,375 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.