Fintel reports that on September 25, 2023, Raymond James maintained coverage of Allegiant Travel (NASDAQ:ALGT) with a Outperform recommendation.
Analyst Price Forecast Suggests 71.99% Upside
As of August 31, 2023, the average one-year price target for Allegiant Travel is 129.54. The forecasts range from a low of 101.00 to a high of $157.50. The average price target represents an increase of 71.99% from its latest reported closing price of 75.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Allegiant Travel is 2,568MM, an increase of 2.50%. The projected annual non-GAAP EPS is 5.81.
Allegiant Travel Declares $0.60 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $0.60 per share ($2.40 annualized). Shareholders of record as of August 15, 2023 received the payment on September 1, 2023. Previously, the company paid $0.70 per share.
At the current share price of $75.32 / share, the stock's dividend yield is 3.19%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.23%, the lowest has been 1.56%, and the highest has been 4.02%. The standard deviation of yields is 0.60 (n=86).
The current dividend yield is 1.59 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 502 funds or institutions reporting positions in Allegiant Travel. This is an increase of 10 owner(s) or 2.03% in the last quarter. Average portfolio weight of all funds dedicated to ALGT is 0.16%, an increase of 5.20%. Total shares owned by institutions decreased in the last three months by 3.86% to 18,316K shares. 
The put/call ratio of ALGT is 0.58, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 1,442K shares representing 8.01% ownership of the company. In it's prior filing, the firm reported owning 1,558K shares, representing a decrease of 7.98%. The firm increased its portfolio allocation in ALGT by 20.79% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,098K shares representing 6.09% ownership of the company. In it's prior filing, the firm reported owning 1,137K shares, representing a decrease of 3.58%. The firm increased its portfolio allocation in ALGT by 28.36% over the last quarter.
Diamond Hill Capital Management holds 771K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 790K shares, representing a decrease of 2.42%. The firm increased its portfolio allocation in ALGT by 28.80% over the last quarter.
Macquarie Group holds 513K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 508K shares, representing an increase of 1.03%. The firm increased its portfolio allocation in ALGT by 43.44% over the last quarter.
Franklin Resources holds 510K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 499K shares, representing an increase of 2.05%. The firm increased its portfolio allocation in ALGT by 498.69% over the last quarter.
Allegiant Travel Background Information
(This description is provided by the company.)
Allegiant Travel Company operates as a leisure travel company. The Company offers flight transport, hotel booking, car rentals, travel management, and other related services. Allegiant Travel serves customers worldwide.
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