Allegiant Travel (NASDAQ:ALGT – Get Rating)’s stock price gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $100.00 to $96.00. The stock had previously closed at $80.12, but opened at $78.36. Allegiant Travel shares last traded at $81.01, with a volume of 162 shares traded.
A number of other equities research analysts have also recently issued reports on ALGT. Susquehanna cut Allegiant Travel from a “positive” rating to a “neutral” rating and set a $90.00 target price for the company. in a research report on Wednesday. TheStreet cut Allegiant Travel from a “c-” rating to a “d” rating in a research report on Thursday, November 3rd. Cowen lowered Allegiant Travel from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a research note on Thursday, December 15th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the company from $106.00 to $75.00 in a research note on Tuesday, December 20th. Finally, Morgan Stanley lowered Allegiant Travel from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $175.00 to $115.00 in a research note on Monday, December 5th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $102.33.
Insiders Place Their Bets
In related news, CMO Scott Wayne Deangelo sold 1,250 shares of Allegiant Travel stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $69.37, for a total value of $86,712.50. Following the sale, the chief marketing officer now owns 15,106 shares of the company’s stock, valued at approximately $1,047,903.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Allegiant Travel by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company’s stock worth $382,578,000 after purchasing an additional 8,810 shares during the last quarter. Vanguard Group Inc. boosted its stake in Allegiant Travel by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,675,544 shares of the transportation company’s stock valued at $122,281,000 after purchasing an additional 20,482 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Allegiant Travel by 220.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock valued at $150,485,000 after purchasing an additional 915,511 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Allegiant Travel by 50.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 755,957 shares of the transportation company’s stock valued at $55,170,000 after purchasing an additional 254,645 shares during the period. Finally, U S Global Investors Inc. boosted its stake in Allegiant Travel by 12.7% in the 3rd quarter. U S Global Investors Inc. now owns 671,473 shares of the transportation company’s stock valued at $49,004,000 after purchasing an additional 75,488 shares during the period. Institutional investors and hedge funds own 85.77% of the company’s stock.
Allegiant Travel Price Performance
The company has a 50 day moving average of $74.26 and a 200-day moving average of $88.37. The firm has a market capitalization of $1.49 billion, a P/E ratio of -36.58 and a beta of 1.56. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 1.55.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last released its earnings results on Wednesday, November 2nd. The transportation company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.07). The company had revenue of $560.33 million for the quarter, compared to the consensus estimate of $556.65 million. Allegiant Travel had a negative net margin of 1.80% and a positive return on equity of 1.68%. On average, sell-side analysts predict that Allegiant Travel will post 0.73 EPS for the current year.
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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.