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Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $55.00 by Analysts at Barclays


serious travel (Nasdaq: CanceledFree report) The price target was reduced by Barclays From $60.00 to $55.00 In a research report published on Thursday, Benzinga Reports. They currently have an equal weight rating on the carrier’s stock.

A number of other brokerages have also recently issued reports on ALGT. Raymond James lowered their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an outperform rating for the company in a research report on Tuesday, February 6th. Susquehanna cut their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. UBS Group initiated coverage on shares of Allegiant Travel in a report on Wednesday, March 20. They issued a sell rating and $58.00 price target for the company. Finally, TD Cowen raised their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a market perform rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on MarketBeat data, Allegiant Travel has an average rating of Hold and an average price target of $89.13.

Read our latest stock analysis on Allegiant Travel

Allegiant Travel’s trading declined by 0.6%.

Nasdaq: Canceled It opened at $53.44 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12-month low of $51.13 and a 12-month high of $130.93. The company has a market capitalization of $974.32 million, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.19 and a beta of 1.63. The company has a 50 day simple moving average of $64.76 and a two-hundred day simple moving average of $71.19.

serious travel (Nasdaq: CanceledGet a free report) released its latest quarterly earnings data on Tuesday, May 7. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same quarter a year earlier, the company reported $3.04 EPS. The company’s revenue for the quarter increased by 1.1% compared to the same quarter last year. Research analysts expect Allegiant Travel to announce earnings per share of 4.37 during the current year.

Allegiant Travel announces dividends

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.60. This represents an annual dividend of $2.40 and a yield of 4.49%. The ex-dividend date is Tuesday, May 14th. Allegiant Travel’s payout ratio is currently 75.95%.

Insiders are placing their bets

In other Allegiant Travel news, Director Gary Elmer She sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed here SEC website. In other news, Marketing Director Scott Wayne Deangelo It sold 19,687 shares of the company’s stock in a transaction dated 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 sale, the CMO now directly owns 64,812 shares in the company, valued at approximately $3,479,108.16. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at this link. And also, director Gary Elmer She sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at $671,559. A disclosure can be found for this sale here. Insiders sold a total of 26,287 shares of company stock worth $1,463,398 in the last 90 days. 17.50% of the shares are currently owned by corporate insiders.

Allegiant Travel Corporate Trade

Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Allegiant Travel during the fourth quarter worth approximately $7,187,000. Qube Research & Technologies Ltd purchased a new stake in shares of Allegiant Travel during the third quarter valued at approximately $5,364,000. Kennedy Capital Management LLC purchased a new position in Allegiant Travel during the third quarter worth approximately $1,177,000. Illinois Municipal Retirement Fund purchased a new position in Allegiant Travel during the third quarter valued at approximately $715,000. Finally, GSA Capital Partners LLP purchased a new position in Allegiant Travel during the third quarter worth approximately $1,404,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

About Allegiant Travel

(Get a 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 services on limited-frequency, non-stop flights between underserved cities and entertainment destinations. As of 1 February 2024, it operated a fleet of 126 Airbus A320 aircraft.

See also

Analyst recommendations for Allegiant Travel (NASDAQ:ALGT)



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