Allegiant Travel (NASDAQ:ALGT – Free Report) had its target price lowered by Susquehanna from $80.00 to $76.00 in a research report report published on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.
A number of other equities research analysts also recently weighed in on ALGT. Morgan Stanley lowered their target price on shares of Allegiant Travel from $100.00 to $95.00 and set an equal weight rating on the stock in a research note on Tuesday, November 7th. Raymond James lowered their target price on shares of Allegiant Travel from $110.00 to $100.00 and set an outperform rating on the stock in a research note on Tuesday, February 6th. StockNews.com downgraded shares of Allegiant Travel from a hold rating to a sell rating in a research note on Monday, November 6th. TD Cowen raised their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a market perform rating in a research note on Tuesday, February 6th. Finally, Barclays decreased their price target on shares of Allegiant Travel from $75.00 to $65.00 and set an equal weight rating on the stock in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $96.57.
Allegiant Travel Price Performance
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last released its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. During the same period last year, the business earned $3.17 earnings per share. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that Allegiant Travel will post 7.52 EPS for the current year.
Allegiant Travel Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, February 14th. Allegiant Travel’s payout ratio is 37.97%.
Insider Buying and Selling
In related news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction on Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.50% of the stock is owned by insiders.
Institutional Trading of Allegiant Travel
A number of hedge funds have recently modified their holdings of ALGT. GAMMA Investing LLC bought a new stake in shares of Allegiant Travel during the 4th quarter valued at $28,000. Lazard Asset Management LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter valued at $31,000. Castleview Partners LLC purchased a new position in shares of Allegiant Travel in the 2nd quarter worth about $44,000. US Bancorp DE raised its position in shares of Allegiant Travel by 69.8% in the 4th quarter. US Bancorp DE now owns 574 shares of the transportation company’s stock worth $47,000 after purchasing an additional 236 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Allegiant Travel by 32.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 81.23% 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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.
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