Allegiant Travel (NASDAQ:ALGT) Given New $65.00 Price Target at Evercore ISI

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by Evercore ISI from $60.00 to $65.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective points to a potential upside of 12.44% from the stock’s previous close.

ALGT has been the topic of several other reports. TD Cowen boosted their price target on shares of Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday. Barclays cut their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley decreased their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Susquehanna dropped their price target on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.25.

Allegiant Travel Price Performance

ALGT stock opened at $57.81 on Thursday. The company has a market capitalization of $1.05 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 6.10 and a beta of 1.65. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The business has a 50-day simple moving average of $44.27 and a two-hundred day simple moving average of $52.04. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.93. The business had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. Allegiant Travel’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.35 earnings per share. Research analysts expect that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,699 shares of company stock valued at $77,350 over the last three months. 17.50% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Allegiant Travel in the 2nd quarter valued at $34,000. CWM LLC raised its position in shares of Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after buying an additional 930 shares in the last quarter. Headlands Technologies LLC boosted its stake in Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after buying an additional 1,590 shares during the period. SG Americas Securities LLC purchased a new position in Allegiant Travel during the first quarter worth about $141,000. Finally, ProShare Advisors LLC increased its stake in Allegiant Travel by 6.9% in the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

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.