Allegiant Travel (NASDAQ:ALGT) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Allegiant Travel (NASDAQ:ALGT) from an outperform rating to a strong-buy rating in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $90.00 price target on the transportation company’s stock, down from their prior price target of $125.00.

ALGT has been the topic of several other reports. Barclays upped their price target on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. TD Cowen lifted their target price on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, December 17th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Susquehanna boosted their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and a consensus target price of $78.10.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $46.55 on Wednesday. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The firm’s 50 day simple moving average is $72.05 and its 200-day simple moving average is $74.40. 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 company has a market cap of $853.63 million, a P/E ratio of -3.48 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, equities research analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

Institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. acquired a new position in shares of Allegiant Travel during the 4th quarter worth $26,067,000. Emerald Advisers LLC acquired a new stake in shares of Allegiant Travel in the 4th quarter valued at $22,256,000. Voloridge Investment Management LLC bought a new stake in Allegiant Travel in the fourth quarter worth $16,713,000. Mesirow Institutional Investment Management Inc. acquired a new position in Allegiant Travel during the fourth quarter worth $13,830,000. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Allegiant Travel by 16.5% during 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 buying an additional 131,561 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.