Stifel Nicolaus reissued their hold rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $150.00 target price on the transportation company’s stock, up from their prior target price of $135.00.
Several other equities analysts also recently issued reports on ALGT. Barclays reissued a sell rating and issued a $130.00 target price on shares of Allegiant Travel in a research report on Thursday, September 14th. Macquarie started coverage on Allegiant Travel in a research report on Monday, September 25th. They issued a neutral rating and a $119.00 target price on the stock. Citigroup cut their target price on Allegiant Travel from $175.00 to $168.00 and set a buy rating on the stock in a research report on Tuesday, September 26th. Bank of America reissued a neutral rating and issued a $145.00 target price (down from $150.00) on shares of Allegiant Travel in a research report on Tuesday, October 10th. Finally, Zacks Investment Research downgraded Allegiant Travel from a hold rating to a sell rating in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $152.55.
Allegiant Travel (ALGT) traded up $2.35 during midday trading on Wednesday, hitting $165.50. The company had a trading volume of 242,678 shares, compared to its average volume of 145,131. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $180.40. The firm has a market cap of $2,660.00, a P/E ratio of 17.61 and a beta of 0.16.
Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The firm had revenue of $348.80 million for the quarter, compared to the consensus estimate of $349.79 million. During the same period in the prior year, the firm earned $2.75 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. sell-side analysts predict that Allegiant Travel will post 8.64 earnings per share for the current year.
In related news, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $155.74, for a total value of $2,774,975.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of the firm’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $155.82, for a total transaction of $2,495,924.76. Following the completion of the transaction, the chief executive officer now directly owns 3,144,674 shares in the company, valued at $490,003,102.68. The disclosure for this sale can be found here. Insiders have sold a total of 40,708 shares of company stock worth $6,227,913 over the last 90 days. Insiders own 21.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. RK Asset Management LLC lifted its stake in Allegiant Travel by 1.8% in the 4th quarter. RK Asset Management LLC now owns 43,982 shares of the transportation company’s stock worth $6,806,000 after purchasing an additional 767 shares in the last quarter. California Public Employees Retirement System lifted its stake in Allegiant Travel by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 28,801 shares of the transportation company’s stock worth $3,793,000 after purchasing an additional 701 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Allegiant Travel by 47.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock worth $166,000 after purchasing an additional 402 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Allegiant Travel in the 3rd quarter worth approximately $408,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Allegiant Travel in the 3rd quarter worth approximately $6,141,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.
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Allegiant Travel Company Profile
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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