Allegiant Travel (NASDAQ:ALGT) Raised to “Neutral” at Bank of America

by · The Cerbat Gem

Allegiant Travel (NASDAQ:ALGT – Get Free Report) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage presently has a $95.00 target price on the transportation company’s stock, up from their prior target price of $55.00. Bank of America‘s target price indicates a potential upside of 3.27% from the stock’s current price.

Several other analysts have also weighed in on the company. Morgan Stanley boosted their price objective on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Zacks Research upgraded Allegiant Travel from a “hold” rating to a “strong-buy” rating in a research report on Friday. Susquehanna boosted their price target on Allegiant Travel from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Wall Street Zen raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Raymond James Financial downgraded shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the stock from $78.00 to $98.00 in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.18.

View Our Latest Stock Analysis on Allegiant Travel

Allegiant Travel Price Performance

Shares of NASDAQ ALGT opened at $91.99 on Tuesday. Allegiant Travel has a fifty-two week low of $39.80 and a fifty-two week high of $107.57. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.68 billion, a PE ratio of -5.64, a price-to-earnings-growth ratio of 0.26 and a beta of 1.64. The business has a 50 day moving average price of $75.86 and a two-hundred day moving average price of $64.58.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last posted its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. The firm had revenue of $496.88 million for the quarter. Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. Sell-side analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

A number of large investors have recently modified their holdings of the company. Hudson Bay Capital Management LP acquired a new position in Allegiant Travel during the 3rd quarter valued at about $1,109,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Allegiant Travel by 14.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 433,668 shares of the transportation company’s stock worth $26,354,000 after buying an additional 53,800 shares during the period. Dark Forest Capital Management LP grew its holdings in Allegiant Travel by 37.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 45,325 shares of the transportation company’s stock worth $2,754,000 after buying an additional 12,462 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Allegiant Travel in the 3rd quarter valued at approximately $606,000. Finally, Millennium Management LLC increased its position in Allegiant Travel by 14.1% in the 3rd quarter. Millennium Management LLC now owns 27,319 shares of the transportation company’s stock valued at $1,660,000 after acquiring an additional 3,375 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

(Get Free Report)

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.

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