Allegiant Travel (NASDAQ:ALGT – Get Free Report) has received an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $86.00.
A number of equities analysts have recently commented on ALGT shares. Barclays reduced their target price on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. TD Cowen cut their price objective on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. Susquehanna cut their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Finally, UBS Group initiated coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price objective on the stock.
View Our Latest Stock Report on Allegiant Travel
Insider Buying and Selling at Allegiant Travel
In other Allegiant Travel news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $54.00, for a total value of $248,400.00. Following the completion of the sale, the executive vice president now directly owns 75,698 shares in the company, valued at $4,087,692. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Robert Paul Wilson III sold 4,600 shares of Allegiant Travel stock in a transaction on Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the sale, the executive vice president now directly owns 75,698 shares in the company, valued at $4,087,692. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the sale, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The disclosure for this sale can be found here. Insiders sold a total of 26,037 shares of company stock worth $1,395,948 over the last three months. Corporate insiders own 17.50% of the company’s stock.
Institutional Investors Weigh In On Allegiant Travel
Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in shares of Allegiant Travel during the fourth quarter worth $28,000. Tradewinds Capital Management LLC purchased a new position in shares of Allegiant Travel during the fourth quarter worth $83,000. SG Americas Securities LLC purchased a new position in shares of Allegiant Travel during the first quarter worth $141,000. Commerce Bank purchased a new position in shares of Allegiant Travel during the fourth quarter worth $201,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Allegiant Travel during the fourth quarter worth $208,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.
Allegiant Travel Stock Performance
Shares of NASDAQ:ALGT opened at $52.98 on Wednesday. The company has a market capitalization of $965.83 million, a price-to-earnings ratio of 16.77, a PEG ratio of 1.40 and a beta of 1.65. Allegiant Travel has a 12 month low of $46.90 and a 12 month high of $130.93. The firm’s 50-day moving average is $56.55 and its 200 day moving average is $69.33. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. Research analysts predict that Allegiant Travel will post 3.61 EPS for the current year.
Allegiant Travel Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.53%. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.
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.
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