Allegiant Travel (NASDAQ:ALGT - Get Free Report) shares dropped 8.7% during mid-day trading on Tuesday . The stock traded as low as $62.48 and last traded at $63.42. Approximately 125,912 shares traded hands during trading, a decline of 67% from the average daily volume of 376,942 shares. The stock had previously closed at $69.48.
Several equities research analysts have recently issued reports on ALGT shares. Bank of America raised their price objective on Allegiant Travel from $54.00 to $95.00 and gave the stock an "underperform" rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Susquehanna raised their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. UBS Group assumed coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 target price on the stock. Finally, Wolfe Research lowered Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel has an average rating of "Hold" and a consensus price target of $80.10.
View Our Latest Stock Analysis on ALGT
The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market cap of $1.15 billion, a P/E ratio of -4.73 and a beta of 1.63. The company's 50 day moving average is $92.51 and its two-hundred day moving average is $72.52.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, sell-side analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. Crews Bank & Trust bought a new position in Allegiant Travel during the fourth quarter worth about $25,000. Nisa Investment Advisors LLC grew its stake in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock valued at $29,000 after acquiring an additional 304 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after purchasing an additional 442 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.
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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