UBS Group Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $61.00

Allegiant Travel (NASDAQ:ALGT) had its price objective lowered by research analysts at UBS Group from $93.00 to $61.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price points to a potential upside of 12.78% from the company’s previous close.

Several other analysts also recently issued reports on ALGT. Susquehanna increased their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Bank of America raised their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research note on Friday, January 17th. TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Raymond James increased their price target on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Finally, The Goldman Sachs Group boosted their price objective 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $84.60.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock traded down $1.88 on Thursday, reaching $54.09. The company’s stock had a trading volume of 42,453 shares, compared to its average volume of 395,470. The company has a market capitalization of $991.90 million, a P/E ratio of -4.05 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 stock has a 50-day moving average price of $83.78 and a 200-day moving average price of $73.63. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. grew its holdings in Allegiant Travel by 2.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company’s stock valued at $95,856,000 after purchasing an additional 24,975 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Allegiant Travel by 16.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock valued at $87,404,000 after buying an additional 131,561 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Allegiant Travel by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company’s stock valued at $70,421,000 after purchasing an additional 57,737 shares during the last quarter. State Street Corp grew its stake in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares during the period. Finally, Franklin Resources Inc. raised its position in Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the period. Hedge funds and other 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.