Allegiant Travel (NASDAQ:ALGT) Price Target Lowered to $50.00 at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its price objective lowered by Susquehanna from $95.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price would indicate a potential upside of 18.12% from the company’s current price.

ALGT has been the subject of a number of other research reports. UBS Group reduced their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Bank of America dropped their price target on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group raised their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. TD Cowen increased their target price on shares of 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 raised their price target 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus target price of $67.00.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $42.33 on Monday. The company has a 50 day moving average of $68.45 and a 200-day moving average of $74.61. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The firm has a market cap of $776.25 million, a price-to-earnings ratio of -3.17 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALGT. Nisa Investment Advisors LLC raised its stake in shares of Allegiant Travel by 1,614.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock worth $849,000 after acquiring an additional 8,491 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after purchasing an additional 75,486 shares in the last quarter. State Street Corp grew its stake in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after buying an additional 10,050 shares during the last quarter. US Bancorp DE raised its position in shares of Allegiant Travel by 575.4% in the 4th quarter. US Bancorp DE now owns 5,025 shares of the transportation company’s stock worth $473,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Allegiant Travel by 1.5% in the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after buying an additional 5,424 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

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.