Allegiant Travel (NASDAQ:ALGT) Price Target Lowered to $87.00 at Morgan Stanley

Allegiant Travel (NASDAQ:ALGT – Free Report) had its price target cut by Morgan Stanley from $95.00 to $87.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

ALGT has been the topic of several other research reports. Susquehanna dropped their target price on Allegiant Travel from $76.00 to $65.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a buy rating to a hold rating and decreased their target price for the company from $75.00 to $53.00 in a research note on Monday. Barclays dropped their price target 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. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a sell rating and a $58.00 price objective for the company. Finally, TD Cowen dropped their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $73.50.

View Our Latest Stock Report on ALGT

Allegiant Travel Stock Up 0.6 %

Shares of Allegiant Travel stock opened at $45.56 on Monday. The firm has a market cap of $830.56 million, a PE ratio of 14.42, a P/E/G ratio of 1.21 and a beta of 1.66. The business’s 50 day simple moving average is $52.08 and its 200 day simple moving average is $65.93. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $130.93.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The business had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Allegiant Travel will post 3.62 earnings per share for the current fiscal year.

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.27%. Allegiant Travel’s dividend payout ratio (DPR) is currently 75.95%.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the 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 transaction, the chief marketing officer now owns 64,812 shares in the company, valued at approximately $3,479,108.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the sale, the chief marketing officer now directly owns 64,812 shares in the company, valued at $3,479,108.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert Paul Wilson III sold 4,600 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.00, for a total value of $248,400.00. Following the sale, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The disclosure for this sale can be found here. Insiders sold 26,037 shares of company stock worth $1,395,948 in the last ninety days. 17.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Allegiant Travel by 17.3% during the third quarter. Invesco Ltd. now owns 80,583 shares of the transportation company’s stock worth $6,194,000 after acquiring an additional 11,858 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Allegiant Travel by 361.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,316 shares of the transportation company’s stock worth $332,000 after purchasing an additional 3,380 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Allegiant Travel in the 3rd quarter valued at approximately $1,177,000. Graham Capital Management L.P. acquired a new stake in Allegiant Travel in the third quarter valued at approximately $671,000. Finally, American Century Companies Inc. grew its stake in shares of Allegiant Travel by 19.4% during the third quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company’s stock worth $20,222,000 after buying an additional 42,688 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Allegiant Travel Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Allegiant Travel and related companies with MarketBeat.com’s FREE daily email newsletter.