Bank of America Has Lowered Expectations for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its target price reduced by Bank of America from $95.00 to $50.00 in a research report released on Thursday,Benzinga reports. Bank of America currently has an underperform rating on the transportation company’s stock.

Several other research firms have also recently commented on ALGT. TD Cowen raised their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. The Goldman Sachs Group raised their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Barclays upped their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley raised 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. Finally, UBS Group lowered their target price on shares of Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.10.

Allegiant Travel Stock Down 4.4 %

Shares of Allegiant Travel stock opened at $46.55 on Thursday. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The company has a market cap of $853.63 million, a P/E ratio of -3.48 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a fifty day moving average of $72.05 and a two-hundred day moving average of $74.62.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) 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%. On average, analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently modified their holdings of ALGT. Crews Bank & Trust purchased a new position in shares of Allegiant Travel during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its stake in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after buying an additional 442 shares during the last quarter. Signaturefd LLC increased its position in Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the last quarter. 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.