Brokerages Set Allegiant Travel (NASDAQ:ALGT) Price Target at $228.22

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Allegiant Travel (NASDAQ:ALGTGet Rating) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $228.22.

Several equities research analysts recently issued reports on the company. StockNews.com initiated coverage on Allegiant Travel in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays lowered their price target on Allegiant Travel from $275.00 to $220.00 in a research note on Thursday, April 7th. TheStreet lowered Allegiant Travel from a “b-” rating to a “c+” rating in a research note on Thursday, February 3rd. Zacks Investment Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating and set a $160.00 price target on the stock in a research note on Tuesday, March 22nd. Finally, Morgan Stanley lowered their price target on Allegiant Travel from $270.00 to $267.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th.

In other Allegiant Travel news, COO Scott Sheldon sold 11,000 shares of the business’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $171.10, for a total value of $1,882,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Scott Wayne Deangelo sold 281 shares of the stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $174.29, for a total value of $48,975.49. The disclosure for this sale can be found here. Insiders sold 24,094 shares of company stock valued at $4,094,497 over the last ninety days. Insiders own 16.70% of the company’s stock.

A number of large investors have recently modified their holdings of ALGT. Harbour Investments Inc. lifted its stake in Allegiant Travel by 1,153.8% in the fourth quarter. Harbour Investments Inc. now owns 163 shares of the transportation company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. Rather & Kittrell Inc. purchased a new position in Allegiant Travel in the fourth quarter worth approximately $32,000. Cyrus J. Lawrence LLC purchased a new position in Allegiant Travel in the first quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Allegiant Travel by 58.0% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267 shares of the transportation company’s stock worth $43,000 after acquiring an additional 98 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $56,000. 98.49% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ ALGT traded down $3.08 on Friday, reaching $152.11. 69 shares of the company’s stock traded hands, compared to its average volume of 228,294. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 17.88 and a beta of 1.55. The stock has a 50 day moving average price of $157.45 and a 200-day moving average price of $173.23. Allegiant Travel has a fifty-two week low of $132.03 and a fifty-two week high of $244.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.98 and a current ratio of 2.02.

Allegiant Travel (NASDAQ:ALGTGet Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The transportation company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.05. The business had revenue of $496.90 million during the quarter, compared to the consensus estimate of $483.75 million. Allegiant Travel had a net margin of 8.89% and a return on equity of 3.37%. The company’s revenue was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.12) earnings per share. As a group, equities research analysts anticipate that Allegiant Travel will post 5.07 EPS for the current fiscal year.

Allegiant Travel Company Profile (Get Rating)

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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.

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