UBS Group Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $45.00

Allegiant Travel (NASDAQ:ALGT) had its target price lowered by equities research analysts at UBS Group from $61.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price would indicate a potential upside of 6.31% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Susquehanna cut their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Barclays lifted 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. Bank of America decreased their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Finally, TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. 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, the company currently has a consensus rating of “Hold” and a consensus price target of $67.00.

Allegiant Travel Stock Performance

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

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Allegiant Travel will post 7.7 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its position in shares of Allegiant Travel by 2.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company’s stock valued at $95,856,000 after acquiring an additional 24,975 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Allegiant Travel by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company’s stock worth $70,421,000 after purchasing an additional 57,737 shares during the period. State Street Corp lifted its holdings 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 acquiring an additional 10,050 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after buying an additional 14,852 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.