Allegiant Travel (NASDAQ:ALGT – Get Free Report ) fell 8.5% on Thursday after TD Cowen lowered its price target on the stock from $60.00 to $39.00. TD Cowen currently has a hold rating on the stock. Allegiant Travel traded as high as $46.30 and was last seen trading at $47.56. 657,573 shares traded during the trading session, up 98% from the average session volume of 332,894 shares. The stock had previously closed at $51.97.
ALGT has been the subject of several other reports. Evercore ISI cut their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research report on Monday. Barclays cut their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price target on the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Susquehanna lowered their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Morgan Stanley lowered their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the company in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.13.
Check out our latest ALGT research report
Buying and selling of insider information
In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the COO now directly owns 9,422 shares of the company’s stock, valued at approximately $480,522. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Keny Frank Wilper sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the transaction, the Chief Operating Officer now directly owns 9,422 shares of the company’s stock, valued at $480,522. The sale was disclosed in a SEC filing, which is available here. Additionally, 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 of the company’s stock, valued at approximately $3,479,108.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,037 shares of the company’s stock worth $1,395,948. 17.50% of the shares are owned by insiders.
Hedge funds weigh Allegiant travel
Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at around $141,350,000. Donald Smith & CO. Inc. increased its stake in shares of Allegiant Travel by 106.7% in the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after acquiring an additional 159,892 shares during the period. US Global Investors Inc. increased its holdings in shares of Allegiant Travel by 23.4% in the 4th quarter. US Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after acquiring an additional 122,844 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Allegiant Travel by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after purchasing an additional 98,662 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Allegiant Travel during the 4th quarter worth around $7,187,000. Institutional investors own 85.81% of the company’s shares.
Allegiant Travel Price Performance
The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74, and a current ratio of 0.76. The company has a market capitalization of $900.20 million, a P/E ratio of 15.63, a P/E/G ratio of 1.94, and a beta of 1.66. The company’s fifty-day moving average is $51.29 and its 200-day moving average is $64.27.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) released its latest quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The company had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. During the same period a year ago, the business reported earnings of $3.04 per share. The company’s revenue for the quarter increased 1.1% on a year-over-year basis. As a group, analysts anticipate that Allegiant Travel will post earnings of $3.46 per share for the current fiscal year.
Allegiant Travel Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 3. Shareholders of record on Wednesday, May 15 were paid a $0.60 dividend. This represents a dividend of $2.40 on an annualized basis and a dividend yield of 4.86%. The ex-dividend date for this dividend was Tuesday, May 14. Allegiant Travel’s payout ratio is currently 75.95%.
Allegiant Travel Company Profile
(Get the free report)
Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of underserved cities in the United States. The company provides scheduled air transportation on limited-frequency, nonstop flights between underserved cities and leisure destinations. As of February 1, 2024, it operates a fleet of 126 Airbus A320 series aircraft.
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