Allegiant Travel (NASDAQ:ALGT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, January 9th.
Several other research firms have also issued reports on ALGT. ValuEngine lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Citigroup dropped their price objective on Allegiant Travel from $175.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, September 26th. Cowen reiterated a “hold” rating and set a $145.00 target price on shares of Allegiant Travel in a research note on Tuesday, October 17th. Raymond James Financial reissued a “hold” rating on shares of Allegiant Travel in a research report on Monday, December 4th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $135.00 price target on shares of Allegiant Travel in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $157.09.
Allegiant Travel (ALGT) opened at $166.60 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $2,716.36, a PE ratio of 17.89 and a beta of 0.16. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $180.40.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 earnings per share for the quarter, topping 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 company had revenue of $348.80 million during the quarter, compared to analysts’ expectations of $349.79 million. During the same period in the prior year, the firm earned $2.75 earnings per share. Allegiant Travel’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts anticipate that Allegiant Travel will post 8.68 EPS for the current fiscal year.
In related news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the completion of the sale, the director now directly owns 2,120 shares of the company’s stock, valued at approximately $315,562. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $167.18, for a total value of $30,457,186.76. Following the completion of the sale, the chief executive officer now directly owns 3,071,196 shares of the company’s stock, valued at $513,442,547.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,568 shares of company stock worth $48,550,676. 21.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its stake in Allegiant Travel by 8.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,170 shares of the transportation company’s stock valued at $10,736,000 after purchasing an additional 5,991 shares during the last quarter. SG Americas Securities LLC acquired a new position in Allegiant Travel during the 2nd quarter valued at about $339,000. Legal & General Group Plc boosted its stake in Allegiant Travel by 10.7% during the 2nd quarter. Legal & General Group Plc now owns 24,431 shares of the transportation company’s stock valued at $3,315,000 after purchasing an additional 2,363 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Allegiant Travel by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 127 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its stake in Allegiant Travel by 23.7% during the 2nd quarter. Capital Fund Management S.A. now owns 36,344 shares of the transportation company’s stock valued at $4,928,000 after purchasing an additional 6,952 shares during the last quarter. 86.16% of the stock is 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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