Allegiant Travel (ALGT) Coverage Initiated by Analysts at Goldman Sachs Group

Share on StockTwits

Investment analysts at Goldman Sachs Group initiated coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $167.00 price target on the transportation company’s stock. Goldman Sachs Group’s price objective would suggest a potential upside of 37.03% from the company’s previous close.

A number of other research firms also recently commented on ALGT. BidaskClub upgraded Allegiant Travel from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 21st. Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Barclays decreased their target price on Allegiant Travel from $135.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, July 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (down from $190.00) on shares of Allegiant Travel in a research report on Thursday, July 26th. Finally, Cowen decreased their target price on Allegiant Travel from $166.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $152.82.

NASDAQ:ALGT opened at $121.87 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $1.97 billion, a P/E ratio of 12.76, a PEG ratio of 0.57 and a beta of 0.30. Allegiant Travel has a 12 month low of $105.21 and a 12 month high of $181.45.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 24th. The transportation company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The firm had revenue of $393.11 million during the quarter, compared to analysts’ expectations of $390.30 million. Allegiant Travel had a return on equity of 26.83% and a net margin of 12.42%. Allegiant Travel’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, equities research analysts anticipate that Allegiant Travel will post 9.49 EPS for the current year.

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 380 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total transaction of $51,303.80. Following the sale, the executive vice president now directly owns 17,816 shares in the company, valued at $2,405,338.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President John Redmond acquired 12,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $115.42 per share, for a total transaction of $1,385,040.00. Following the completion of the transaction, the president now owns 102,125 shares of the company’s stock, valued at $11,787,267.50. The disclosure for this purchase can be found here. Corporate insiders own 20.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC raised its position in Allegiant Travel by 42.8% during the third quarter. Riverhead Capital Management LLC now owns 2,001 shares of the transportation company’s stock valued at $254,000 after purchasing an additional 600 shares during the period. U S Global Investors Inc raised its holdings in shares of Allegiant Travel by 17.5% in the third quarter. U S Global Investors Inc now owns 31,395 shares of the transportation company’s stock worth $3,981,000 after buying an additional 4,680 shares during the period. Primecap Management Co. CA raised its holdings in shares of Allegiant Travel by 8.3% in the third quarter. Primecap Management Co. CA now owns 47,100 shares of the transportation company’s stock worth $5,972,000 after buying an additional 3,600 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Allegiant Travel in the third quarter worth approximately $4,084,000. Finally, Royce & Associates LP raised its holdings in shares of Allegiant Travel by 20.1% in the third quarter. Royce & Associates LP now owns 223,913 shares of the transportation company’s stock worth $28,392,000 after buying an additional 37,505 shares during the period. Institutional investors and hedge funds own 87.86% 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.

Featured Story: What is the Dividend Aristocrat Index?

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

Receive News & Ratings for Allegiant Travel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply