Allegiant Travel (NASDAQ:ALGT) Upgraded to Strong-Buy at Raymond James

Allegiant Travel (NASDAQ:ALGT) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Finviz reports. The firm currently has a $90.00 target price on the transportation company’s stock, down from their prior target price of $125.00. Raymond James’ price objective would suggest a potential upside of 76.99% from the stock’s previous close.

A number of other research firms have also recently commented on ALGT. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Bank of America increased their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. Morgan Stanley lifted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Barclays boosted their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.60.

Allegiant Travel Trading Down 1.5 %

NASDAQ:ALGT opened at $50.85 on Wednesday. The firm has a market capitalization of $932.49 million, a P/E ratio of -3.80 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The company’s 50-day simple moving average is $75.22 and its 200 day simple moving average is $74.67.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 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%. As a group, analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Trading of Allegiant Travel

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after buying an additional 200 shares during the last quarter. Jones Financial Companies Lllp grew its position in Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after buying an additional 223 shares during the period. GAMMA Investing LLC increased its holdings in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in Allegiant Travel in the fourth quarter worth approximately $25,000. Hedge funds and other 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.