Allegiant Travel (NASDAQ:ALGT – Free Report) Susquehanna lowered its price target from $76.00 to $65.00 in a research report released Tuesday, Benzinga reported. We currently have a Neutral rating on this shipping company's stock.
A number of other analysts have also commented on ALGT. Barclays lowered their target price on shares of Allegiant Travel from $65.00 to $60.00 and set an equal weight rating for the company in a research note on Friday, April 5th. UBS Group underwrote coverage on the stock of Allegiant Travel in a research note on Wednesday, March 20th. They gave the company a Sell rating and set a price target of $58.00. Raymond James lowered their target price on shares of Allegiant Travel from $110.00 to $100.00 and set an outperform rating for the company in a research note on Tuesday, February 6th. Finally, TD Cowen increased their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a market perform rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have rated it a hold, and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $89.75, according to MarketBeat data.
See the latest stock analysis for Allegiant Travel.
Allegiant Travel Stock Performance
NASDAQ:ALGT opened at $66.09 on Tuesday. The company's 50 day moving average is $73.78 and its 200 day moving average is $73.87. The company has a market capitalization of $1.21 billion, a P/E ratio of 10.46x, a P/E ratio of 0.83x, and a beta of 1.58x. The company has a quick ratio of 0.80, a current ratio of 0.83, and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last released its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, beating the consensus estimate ($0.41) by $0.52. The company had revenue of $611.00 million for the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a net profit margin of 4.54% and a return on equity of 3.80%. His Allegiant Travel revenue for the quarter was down 0.1% compared to the year-ago period. His EPS for the same business in the same period last year was $3.17. As a group, sell-side analysts expect Allegiant Travel to post 6.36 EPS for the current year.
Allegiant Travel Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a dividend of $0.60 per share. This equates to his $2.40 dividend and his 3.63% yield on an annualized basis. The ex-dividend date was Wednesday, February 14th. Allegiant Travel's dividend payout ratio is 37.97%.
Insiders place bets
In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction on Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now directly owns 8,490 shares of the company's stock, valued at approximately $671,559. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available through this hyperlink. Insiders own 17.50% of the company's shares.
Hedge funds involved in loyalty travel
A number of hedge funds and other institutional investors have recently modified their positions in the stock. Guggenheim Capital LLC grew its holdings in shares of Allegiant Travel by 5.3% in the 1st quarter. Guggenheim Capital LLC now owns 1,528 shares of the company's stock valued at $249,000 after purchasing an additional 77 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Allegiant Travel by 0.3% in the 1st quarter. Sei Investments Co. now owns 28,155 shares of the shipping company's stock valued at $4,588,000 after purchasing an additional 92 shares in the last quarter. Manufacturers Life Insurance Company increased its holdings in shares of Allegiant Travel by 1.8% in the 2nd quarter. Manufacturers Life Insurance Company now owns 6,407 shares of the transportation company's stock valued at $809,000 after purchasing an additional 113 shares in the last quarter. Ameritas Investment Partners increased its holdings in shares of Allegiant Travel by 9.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,306 shares of the transportation company's stock valued at $165,000 after purchasing an additional 118 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in shares of Allegiant Travel by 3.3% in the 4th quarter. Vident Investment Advisory LLC now owns 3,779 shares of the company's stock valued at $257,000 after purchasing an additional 119 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.
About Allegiant Travel
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Allegiant Travel Company is a leisure travel company that provides travel services and products to residents of underserved cities in the United States. The company provides scheduled air transportation between underserved cities and leisure destinations on a limited number of direct flights. As of February 1, 2024, it operates a fleet of 126 Airbus A320 series aircraft.
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