Allegiant Travel (NASDAQ:ALGT) Stock Rating Lowered by BidaskClub

Allegiant Travel (NASDAQ:ALGT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, January 9th.

Several other equities analysts have also recently weighed in on the company. Barclays reaffirmed a “sell” rating and set a $130.00 target price on shares of Allegiant Travel in a research note on Thursday, September 14th. Deutsche Bank raised Allegiant Travel from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $180.00 in a research note on Thursday, December 21st. Zacks Investment Research cut Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Imperial Capital boosted their price target on Allegiant Travel from $132.00 to $150.00 and gave the company an “in-line” rating in a research note on Tuesday, December 19th. Finally, Cowen reissued a “market perform” rating and issued a $158.00 price target (up previously from $145.00) on shares of Allegiant Travel in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Allegiant Travel currently has an average rating of “Hold” and an average target price of $157.09.

Allegiant Travel (ALGT) opened at $165.50 on Tuesday. 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 12 month low of $111.54 and a 12 month high of $180.40. The firm has a market capitalization of $2,660.89, a PE ratio of 17.78 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 for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $349.79 million. During the same quarter in the previous year, the business posted $2.75 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts forecast that Allegiant Travel will post 8.64 earnings per share for the current year.

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total transaction of $148,850.00. Following the completion of the sale, the director now owns 2,120 shares of the company’s stock, valued at $315,562. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott Sheldon sold 5,872 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $137.63, for a total value of $808,163.36. Following the sale, the chief financial officer now directly owns 21,202 shares of the company’s stock, valued at approximately $2,918,031.26. The disclosure for this sale can be found here. In the last three months, insiders sold 40,708 shares of company stock valued at $6,227,913. 22.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in ALGT. Victory Capital Management Inc. boosted its position in Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after purchasing an additional 127 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Allegiant Travel by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after buying an additional 599 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Allegiant Travel by 81.8% during the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after buying an additional 504 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Allegiant Travel by 2.0% during the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after buying an additional 23 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Allegiant Travel by 47.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock worth $166,000 after buying an additional 402 shares during the last quarter. 86.16% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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