Allegiant Travel (NASDAQ:ALGT) Hits New 1-Year Low After Analyst Downgrade

Shares of Allegiant Travel (NASDAQ:ALGTGet Free Report) hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $95.00 to $87.00. Morgan Stanley currently has an equal weight rating on the stock. Allegiant Travel traded as low as $45.20 and last traded at $45.20, with a volume of 12265 shares trading hands. The stock had previously closed at $45.31.

Several other brokerages have also recently weighed in on ALGT. UBS Group began coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target on the stock. Susquehanna cut their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Barclays decreased their price target on Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $53.00 in a research note on Monday. Finally, TD Cowen lowered their target price on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.50.

View Our Latest Stock Analysis on Allegiant Travel

Insider Buying and Selling at Allegiant Travel

In related news, EVP Robert Paul Wilson III sold 4,600 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 75,698 shares in the company, valued at $4,087,692. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert Paul Wilson III sold 4,600 shares of the business’s 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 completion of the sale, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were 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 $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. 17.50% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

Several hedge funds have recently added to or reduced their stakes in ALGT. GAMMA Investing LLC bought a new position in shares of Allegiant Travel in the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $83,000. SG Americas Securities LLC purchased a new position in shares of Allegiant Travel during the first quarter valued at approximately $141,000. Commerce Bank purchased a new position in shares of Allegiant Travel during the fourth quarter valued at approximately $201,000. Finally, Everence Capital Management Inc. bought a new position in shares of Allegiant Travel during the fourth quarter valued at approximately $208,000. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Price Performance

The company has a market cap of $821.81 million, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.21 and a beta of 1.66. The business has a 50 day moving average of $51.89 and a 200 day moving average of $65.65. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The firm had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. During the same period last year, the company posted $3.04 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts predict that Allegiant Travel will post 3.62 EPS for the current year.

Allegiant Travel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is presently 75.95%.

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.

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