Allegiant Travel (NASDAQ:ALGT) Stock Price Down 9.1% – What’s Next?

Allegiant Travel (NASDAQ:ALGT) shares fell 9.1% on Monday . The company traded as low as $53.00 and last traded at $55.25. 369,692 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 385,020 shares. The stock had previously closed at $60.76.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Bank of America upped their price target on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target for the company. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.10.

Allegiant Travel Stock Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of -4.17 and a beta of 1.64. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $90.29 and a two-hundred day moving average price of $73.17.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. Equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Allegiant Travel in the 4th quarter valued at about $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Allegiant Travel during the 4th quarter worth $655,000. Voloridge Investment Management LLC purchased a new position in Allegiant Travel in the fourth quarter worth $16,713,000. Woodline Partners LP purchased a new stake in Allegiant Travel during the fourth quarter valued at about $5,372,000. Finally, ProShare Advisors LLC bought a new stake in Allegiant Travel during the fourth quarter worth about $438,000. Institutional investors own 85.81% of the company’s stock.

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.