On September 29, 2023, analyst Daniel McKenzie from Seaport Global reiterated his positive stance on Allegiant Travel (NASDAQ:ALGT) by maintaining a Buy rating. However, McKenzie did adjust the price target downwards from $115 to $110. This indicates that McKenzie still sees potential in the stock as an investment opportunity, but believes that it may not reach the previously set price target.
Similarly, on September 25, 2023, analyst Savanthi Syth from Raymond James also expressed a positive outlook for Allegiant Travel. Unfortunately, specific details of Syth’s analysis were not provided.
Allegiant Travel is closely followed by various analysts, including Susquehanna Financial Group, who hold a Neutral rating on the stock. While neutral ratings indicate a more cautious stance, it is important to consider the opinions of multiple analysts to form a comprehensive view.
As of September 28, 2023, the stock price for Allegiant Travel stood at $78.25.
Allegiant Travel Company
Updated on: 04/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
|Cowen & Co.||Buy|
Cowen & Co.
ALGT Stock Performance on September 29, 2023: Stable Closing Price and Promising Growth Potential
ALGT Stock Performance on September 29, 2023:
On September 29, 2023, Allegiant Travel Company (ALGT) experienced a day of mixed performance in the stock market. The stock opened at $78.37 and fluctuated within a range of $76.40 to $78.37 throughout the day. By the end of the trading day, ALGT closed at $78.21, indicating no significant change from the previous day’s closing price.
The trading volume for ALGT on this day was 4,750 shares, significantly lower than the average volume of 219,951 shares over the past three months.
With a market capitalization of $1.4 billion, Allegiant Travel Company operates in the transportation sector, specifically in the airlines industry. Despite the challenging times faced by the airline industry, ALGT has shown promising signs of growth in its earnings and revenue.
ALGT’s earnings growth in the last year was -98.42%, indicating a significant decline. However, the company has managed to bounce back with a remarkable earnings growth of +227.72% this year. Looking ahead, ALGT is projected to experience a positive earnings growth of +93.48% over the next five years, suggesting a potential long-term growth trajectory.
In terms of revenue growth, ALGT witnessed a growth rate of +34.77% in the last year, indicating a healthy expansion in its top-line performance.
The P/E ratio for ALGT stands at 9.3, which suggests that the stock is currently undervalued relative to its earnings. Additionally, the price/sales ratio of 0.53 and the price/book ratio of 1.12 further support the notion that ALGT may be trading at an attractive valuation.
Looking ahead, investors can anticipate ALGT’s next reporting date on October 25, 2023. Analysts forecast an earnings per share (EPS) of $0.96 for the current quarter. With an annual revenue of $2.3 billion and an annual profit of $2.5 million, ALGT operates with a narrow net profit margin of 0.11%.
Despite the absence of executive information, ALGT is headquartered in Las Vegas, Nevada, and continues to operate in the highly competitive airline industry.
In conclusion, ALGT’s stock performance on September 29, 2023, remained relatively stable, with no significant changes in its closing price. However, the company has displayed impressive earnings and revenue growth, which may indicate its potential for long-term success. Investors should closely monitor ALGT’s future financial reports and market trends to make informed investment decisions.
Allegiant Travel Co (ALGT) Stock Price Soars on Positive Analyst Outlook and Strong Financial Performance
On September 29, 2023, Allegiant Travel Co (ALGT) had a successful day in the stock market. The stock price closed at $76.40, and according to the data provided by CNN Money, analysts have a positive outlook for the company’s future performance. The 11 analysts offering 12-month price forecasts for ALGT have a median target of $118.00. This represents a significant increase of 54.45% from the last price of $76.40. The high estimate for the stock price is $145.00, while the low estimate is $80.00. These projections indicate that analysts are optimistic about ALGT’s potential for growth. Furthermore, a consensus among 13 polled investment analysts suggests holding the stock of Allegiant Travel Co. This rating has remained steady since June, indicating that analysts have maintained their positive outlook on the company’s prospects. In terms of financial performance, ALGT reported earnings per share of $0.96 for the current quarter. Additionally, the company generated sales of $582.2 million. These figures demonstrate the company’s ability to generate revenue and maintain profitability. Investors and analysts eagerly await the upcoming reporting date of October 25, when Allegiant Travel Co will release its financial results for the quarter. This information will provide further insights into the company’s performance and may influence the stock’s future trajectory. Overall, based on the information provided, ALGT had a successful day in the stock market on September 29, 2023. Analysts have a positive outlook for the company, with price targets indicating a potential increase in the stock price. Investors will continue to monitor ALGT’s financial performance and await the upcoming earnings report to make informed investment decisions.