Allegiant Travel (NASDAQ:ALGT) Shares Gap Down After Analyst Downgrade

Allegiant Travel (NASDAQ:ALGT) shares gapped down prior to trading on Monday after UBS Group lowered their price target on the stock from $61.00 to $45.00. The stock had previously closed at $46.55, but opened at $41.41. UBS Group currently has a neutral rating on the stock. Allegiant Travel shares last traded at $41.74, with a volume of 60,174 shares trading hands.

Several other equities analysts have also commented on ALGT. Susquehanna decreased their price objective 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. TD Cowen raised their target price on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Bank of America cut their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a report on Thursday. Morgan Stanley upped their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Barclays raised their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. 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. Based on data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $71.00.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in Allegiant Travel in the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp grew its holdings in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC increased its position in shares of Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after purchasing an additional 442 shares during the last quarter. Signaturefd LLC raised its holdings in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after buying an additional 138 shares during the period. Finally, GAMMA Investing LLC lifted its position in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Trading Down 1.4 %

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’s 50 day simple moving average is $72.05 and its two-hundred day simple moving average is $74.84. The company has a market cap of $842.08 million, a PE ratio of -3.43 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

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.