Allegiant Travel (ALGT) PT Lowered to $155.00 at Buckingham Research

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Allegiant Travel (NASDAQ:ALGT) had its price target cut by Buckingham Research from $165.00 to $155.00 in a report published on Wednesday. They currently have a buy rating on the transportation company’s stock.

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Allegiant Travel from a strong-buy rating to a buy rating in a research report on Monday, June 18th. Stifel Nicolaus restated a buy rating and set a $160.00 price objective (down previously from $190.00) on shares of Allegiant Travel in a research report on Thursday, July 26th. Morgan Stanley reduced their price objective on Allegiant Travel from $164.00 to $156.00 and set an equal weight rating on the stock in a research report on Thursday, July 12th. Zacks Investment Research upgraded Allegiant Travel from a sell rating to a hold rating in a research report on Wednesday, July 11th. Finally, ValuEngine upgraded Allegiant Travel from a sell rating to a hold rating in a research report on Monday, August 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $154.00.

Shares of ALGT stock opened at $119.73 on Wednesday. The firm has a market cap of $2.05 billion, a P/E ratio of 12.54, a PEG ratio of 0.49 and a beta of 0.13. Allegiant Travel has a twelve month low of $112.47 and a twelve month high of $181.45. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.83 and a current ratio of 0.87.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 25th. The transportation company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.44. The business had revenue of $436.80 million for the quarter, compared to analyst estimates of $437.69 million. Allegiant Travel had a return on equity of 30.22% and a net margin of 13.21%. Allegiant Travel’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS. Equities research analysts expect that Allegiant Travel will post 9.73 EPS for the current fiscal year.

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 380 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total value of $51,303.80. Following the sale, the executive vice president now owns 17,816 shares in the company, valued at approximately $2,405,338.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 20.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Bayesian Capital Management LP bought a new stake in shares of Allegiant Travel in the 1st quarter valued at about $236,000. Raymond James & Associates grew its position in shares of Allegiant Travel by 41.2% in the 2nd quarter. Raymond James & Associates now owns 1,757 shares of the transportation company’s stock valued at $244,000 after buying an additional 513 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Allegiant Travel by 44.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,861 shares of the transportation company’s stock valued at $259,000 after buying an additional 569 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at about $312,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at about $370,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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