Barclays Cuts Allegiant Travel (NASDAQ:ALGT) Price Target to $60.00

Allegiant Travel (NASDAQ:ALGT) had its price objective reduced by analysts at Barclays from $100.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective suggests a potential upside of 37.90% from the stock’s current price.

ALGT has been the topic of a number of other research reports. Morgan Stanley upped their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Raymond James upgraded Allegiant Travel from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $125.00 to $90.00 in a research report on Wednesday, April 2nd. TD Cowen lifted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. Finally, Susquehanna lowered their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.00.

Allegiant Travel Stock Performance

Shares of ALGT stock traded down $2.41 during mid-day trading on Tuesday, reaching $43.51. 342,581 shares of the company’s stock traded hands, compared to its average volume of 433,277. The firm has a 50 day moving average price of $70.88 and a two-hundred day moving average price of $74.86. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market capitalization of $797.89 million, a PE ratio of -3.25 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT) last released its 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 negative net margin of 9.56% and a positive return on equity of 3.33%. On average, research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Allegiant Travel by 5,248.2% during the 1st quarter. GAMMA Investing LLC now owns 36,207 shares of the transportation company’s stock valued at $1,870,000 after buying an additional 35,530 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Allegiant Travel during the fourth quarter valued at $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Allegiant Travel in the fourth quarter valued at $655,000. Voloridge Investment Management LLC acquired a new position in shares of Allegiant Travel in the fourth quarter worth about $16,713,000. Finally, Woodline Partners LP purchased a new stake in shares of Allegiant Travel during the 4th quarter worth about $5,372,000. Institutional investors and hedge funds 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.