Allegiant Travel (NASDAQ:ALGT) Shares Up 4.3% – What’s Next?

Shares of Allegiant Travel (NASDAQ:ALGT) shot up 4.3% on Tuesday . The company traded as high as $60.13 and last traded at $60.08. 66,218 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 359,232 shares. The stock had previously closed at $57.62.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley dropped their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Evercore ISI lifted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. TD Cowen upped their price target on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Susquehanna lifted their price objective on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and decreased their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.13.

Allegiant Travel Stock Up 1.2 %

The business has a 50 day moving average of $46.49 and a 200 day moving average of $51.08. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 3.11 and a beta of 1.65. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $4.35 earnings per share. On average, equities analysts anticipate that Allegiant Travel will post 1.47 EPS for the current year.

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,699 shares of company stock valued at $77,350 in the last three months. 17.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel in the 2nd quarter valued at $34,000. NBC Securities Inc. raised its holdings in Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares during the last quarter. CWM LLC lifted its position in Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares during the period. SG Americas Securities LLC bought a new position in shares of Allegiant Travel in the 1st quarter valued at about $141,000. Finally, Headlands Technologies LLC grew its position in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after buying an additional 1,590 shares during the period. 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.