Allegiant Travel (NASDAQ:ALGT – Get Rating) was downgraded by equities research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $116.00 target price on the transportation company’s stock. Wolfe Research’s price target would suggest a potential upside of 6.34% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Allegiant Travel from $245.00 to $190.00 in a research note on Thursday, August 4th. Morgan Stanley lowered their price target on shares of Allegiant Travel from $250.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Susquehanna decreased their price objective on shares of Allegiant Travel from $185.00 to $140.00 and set a “positive” rating for the company in a report on Tuesday, July 12th. Evercore ISI decreased their price objective on shares of Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating for the company in a report on Monday, June 27th. Finally, Susquehanna Bancshares decreased their price objective on shares of Allegiant Travel from $185.00 to $140.00 and set a “positive” rating for the company in a report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.80.
Allegiant Travel Trading Up 1.9%
Shares of Allegiant Travel stock opened at $109.08 on Friday. Allegiant Travel has a 52-week low of $102.99 and a 52-week high of $215.48. The company has a quick ratio of 1.49, a current ratio of 1.53 and a debt-to-equity ratio of 1.46. The company’s 50-day simple moving average is $117.89 and its 200-day simple moving average is $143.97. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 42.44 and a beta of 1.49.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The transportation company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.44). Allegiant Travel had a return on equity of 3.51% and a net margin of 2.23%. During the same quarter last year, the business earned $3.46 EPS. As a group, equity research analysts anticipate that Allegiant Travel will post 1.72 earnings per share for the current year.
Insider Activity at Allegiant Travel
In related news, CMO Scott Wayne Deangelo sold 500 shares of Allegiant Travel stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $112.89, for a total value of $56,445.00. Following the sale, the chief marketing officer now directly owns 8,035 shares in the company, valued at approximately $907,071.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CMO Scott Wayne Deangelo sold 500 shares of Allegiant Travel stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $112.89, for a total value of $56,445.00. Following the transaction, the chief marketing officer now owns 8,035 shares of the company’s stock, valued at approximately $907,071.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Clark Anderson sold 858 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $114.77, for a total transaction of $98,472.66. Following the completion of the transaction, the chief financial officer now directly owns 42,255 shares in the company, valued at approximately $4,849,606.35. The disclosure for this sale can be found here. Insiders have sold a total of 3,172 shares of company stock worth $394,943 in the last ninety days. 15.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Allegiant Travel
Several hedge funds have recently made changes to their positions in the business. Black Rock Inc. grew its stake in shares of Allegiant Travel by 0.4% in the 1st quarter. Black Rock Inc. now owns 2,355,920 shares of the transportation company’s stock worth $382,578,000 after purchasing an additional 8,810 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Allegiant Travel by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,649,252 shares of the transportation company’s stock worth $267,823,000 after acquiring an additional 26,815 shares in the last quarter. State Street Corp increased its position in shares of Allegiant Travel by 7.7% in the first quarter. State Street Corp now owns 643,363 shares of the transportation company’s stock worth $104,476,000 after acquiring an additional 46,220 shares in the last quarter. US Global Investors Inc. increased its position in shares of Allegiant Travel by 18.3% in the first quarter. US Global Investors Inc. now owns 616,869 shares of the transportation company’s stock worth $100,173,000 after acquiring an additional 95,643 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Allegiant Travel by 27.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 494,380 shares of the transportation company’s stock worth $80,282,000 after acquiring an additional 105,120 shares in the last quarter. Institutional investors and hedge funds own 98.49% of the company’s stock.
About Allegiant Travel
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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 14, 2022, it operates a fleet of 110 Airbus A320 series aircraft.
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