Allegiant Travel (NASDAQ:ALGT) Given New $61.00 Price Target at UBS Group

Allegiant Travel (NASDAQ:ALGT) had its price target dropped by research analysts at UBS Group from $93.00 to $61.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s price objective would suggest a potential upside of 10.99% from the stock’s current price.

Several other research firms have also issued reports on ALGT. The Goldman Sachs Group increased their target price on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Bank of America increased their target price on Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a report on Friday, January 17th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Cowen upped their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Finally, Barclays upped their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Allegiant Travel currently has an average rating of “Hold” and an average price target of $84.60.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $54.96 on Thursday. 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 stock’s fifty day moving average price is $81.94 and its two-hundred day moving average price is $73.58. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -4.11 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, equities analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. grew its stake in Allegiant Travel by 2.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company’s stock worth $95,856,000 after purchasing an additional 24,975 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Allegiant Travel by 16.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock valued at $87,404,000 after acquiring an additional 131,561 shares during the period. Dimensional Fund Advisors LP grew its stake in Allegiant Travel by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company’s stock valued at $70,421,000 after acquiring an additional 57,737 shares during the period. State Street Corp grew its stake in Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the period. Finally, Franklin Resources Inc. grew its stake in Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after acquiring an additional 14,852 shares during the period. 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.