Allegiant Travel (NASDAQ:ALGT) Shares Down 9.1% – Time to Sell?

Allegiant Travel (NASDAQ:ALGT) dropped 9.1% during trading on Monday . The company traded as low as $53.00 and last traded at $55.25. Approximately 369,692 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 385,020 shares. The stock had previously closed at $60.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALGT. Raymond James increased their price target on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. The Goldman Sachs Group boosted their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Bank of America upped their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. Finally, TD Cowen increased their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $80.10.

Allegiant Travel Stock Performance

The firm has a market cap of $1.02 billion, a P/E ratio of -4.17 and a beta of 1.64. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company’s 50-day moving average is $90.29 and its two-hundred day moving average is $73.17.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Allegiant Travel in the 4th quarter worth approximately $26,067,000. Emerald Advisers LLC purchased a new position in Allegiant Travel in the fourth quarter worth $22,256,000. Voloridge Investment Management LLC bought a new position in Allegiant Travel in the 4th quarter valued at $16,713,000. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at $13,830,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Allegiant Travel by 16.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock worth $87,404,000 after purchasing an additional 131,561 shares during the period. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Company Profile

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.