Allegiant Travel (NASDAQ:ALGT – Get Rating) had its target price reduced by research analysts at Deutsche Bank Aktiengesellschaft from $190.00 to $106.00 in a research note issued on Tuesday, The Fly reports. The currently firm has a “buy” rating on the transportation company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 57.53% from the company’s current price.
Several other equity analysts have also issued reports on the company. Wolfe Research lowered Allegiant Travel from an “outperform” rating to a “peer perform” rating and set a $116.00 price objective on the stock. in a report on Friday, August 12th. Evercore ISI lowered their price target on Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating on the stock in a report on Monday, June 27th. Melius started coverage on Allegiant Travel in a report on Monday, August 15th. They set a “hold” rating on the stock. Barclays lowered their price objective on Allegiant Travel from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. Finally, StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.20.
Allegiant Travel Stock Up 2.8%
Allegiant Travel stock opened at $67.29 on Tuesday. Allegiant Travel has a 1-year low of $63.78 and a 1-year high of $198.29. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.53 and a quick ratio of 1.49. The stock has a market cap of $1.22 billion, a PE ratio of 26.18 and a beta of 1.57. The stock’s fifty day moving average is $92.61 and its two-hundred day moving average is $121.63.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The transportation company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The company had revenue of $629.85 million for the quarter, compared to analyst estimates of $629.22 million. Allegiant Travel had a return on equity of 3.51% and a net margin of 2.23%. During the same quarter last year, the company posted $3.46 earnings per share. On average, sell-side analysts expect that Allegiant Travel will post 1.39 EPS for the current fiscal year.
Insider Activity
In other news, CMO Scott Wayne Deangelo sold 378 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $96.73, for a total transaction of $36,563.94. Following the completion of the sale, the chief marketing officer now directly owns 17,606 shares in the company, valued at approximately $1,703,028.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Scott Sheldon sold 914 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $114.77, for a total transaction of $104,899.78. Following the completion of the transaction, the chief operating officer now directly owns 38,680 shares in the company, valued at approximately $4,439,303.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Scott Wayne Deangelo sold 378 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $96.73, for a total value of $36,563.94. Following the transaction, the chief marketing officer now owns 17,606 shares of the company’s stock, valued at $1,703,028.38. The disclosure for this sale can be found here. In the last three months, insiders sold 5,646 shares of company stock worth $555,923. Company insiders own 15.10% of the company’s stock.
Institutional Trading of Allegiant Travel
Several institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC boosted its position in Allegiant Travel by 24.2% during the 1st quarter. Profund Advisors LLC now owns 2,112 shares of the transportation company’s stock worth $343,000 after purchasing an additional 411 shares during the period. Oppenheimer Asset Management Inc. grew its position in Allegiant Travel by 2.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,665 shares of the transportation company’s stock worth $1,082,000 after purchasing an additional 150 shares during the last quarter. Level Four Advisory Services LLC boosted its holdings in shares of Allegiant Travel by 8.3% in the first quarter. Level Four Advisory Services LLC now owns 3,754 shares of the transportation company’s stock valued at $610,000 after acquiring an additional 289 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in shares of Allegiant Travel by 109.3% in the first quarter. Lisanti Capital Growth LLC now owns 32,233 shares of the transportation company’s stock valued at $5,234,000 after acquiring an additional 16,833 shares in the last quarter. Finally, the Swiss National Bank boosted its holdings in Allegiant Travel by 9.2% during the first quarter. Swiss National Bank now owns 10,728 shares of the transportation company’s stock worth $1,742,000 after buying an additional 900 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
About Allegiant Travel
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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 14, 2022, it is operated a fleet of 110 Airbus A320 series aircraft.
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