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Allegiant Travel (NASDAQ:ALGT – Get Rating) was downgraded by stock analysts at Cowen from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports.
Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Tuesday, October 11th. Susquehanna Bancshares dropped their price objective on shares of Allegiant Travel from $140.00 to $110.00 in a report on Tuesday, October 11th. Barclays dropped their price objective on shares of Allegiant Travel from $150.00 to $100.00 in a report on Wednesday, October 12th. Morgan Stanley downgraded shares of Allegiant Travel from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $175.00 to $115.00 in a report on Monday, December 5th. Finally, TheStreet downgraded shares of Allegiant Travel from a “c-” rating to a “d” rating in a report on Thursday, November 3rd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $112.45.
Allegiant Travel Stock Performance
Shares of NASDAQ ALGT opened at $71.58 on Thursday. The firm’s 50-day moving average price is $74.30 and its 200-day moving average price is $97.03. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 1.55. The company has a market cap of $1.32 billion, a PE ratio of -32.68 and a beta of 1.53. Allegiant Travel has a 52-week low of $63.78 and a 52-week high of $195.66.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The transportation company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.07). The company had revenue of $560.33 million for the quarter, compared to analysts’ expectations of $556.65 million. Allegiant Travel had a negative net margin of 1.80% and a positive return on equity of 1.68%. As a group, analysts anticipate that Allegiant Travel will post 0.73 EPS for the current year.
Insiders Place Their Bets
In other news, CMO Scott Wayne Deangelo sold 1,250 shares of Allegiant Travel stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $72.62, for a total transaction of $90,775.00. Following the sale, the chief marketing officer now owns 16,356 shares in the company, valued at $1,187,772.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. 15.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Allegiant Travel
Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in shares of Allegiant Travel during the first quarter valued at approximately $65,000. Strs Ohio bought a new stake in shares of Allegiant Travel during the second quarter valued at approximately $56,000. Harbor Investment Advisory LLC increased its position in Allegiant Travel by 61.6% in the third quarter. Harbor Investment Advisory LLC now owns 509 shares of the transportation company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. CWM LLC increased its position in Allegiant Travel by 310.2% in the third quarter. CWM LLC now owns 525 shares of the transportation company’s stock worth $38,000 after purchasing an additional 397 shares during the last quarter. Finally, ACG Wealth bought a new stake in Allegiant Travel in the second quarter worth $68,000. Institutional investors own 87.18% of the company’s stock.
About Allegiant Travel
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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.
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