Shares of Allegiant Travel Company (NASDAQ:ALGT) have been assigned an average rating of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $142.82.
ALGT has been the topic of a number of recent analyst reports. Macquarie initiated coverage on shares of Allegiant Travel in a research note on Monday, September 25th. They set a “neutral” rating and a $119.00 price target on the stock. Citigroup Inc. cut their price target on shares of 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 and Company restated a “hold” rating and set a $145.00 price target on shares of Allegiant Travel in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Monday, July 17th. Finally, ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th.
Shares of Allegiant Travel (NASDAQ:ALGT) traded down 1.45% during midday trading on Friday, reaching $139.30. 187,291 shares of the company traded hands. The company has a 50 day moving average price of $131.14 and a 200 day moving average price of $136.86. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $182.25. The company has a market capitalization of $2.26 billion, a PE ratio of 13.07 and a beta of 0.03.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.08. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.11%. The business had revenue of $348.80 million for the quarter, compared to analyst estimates of $349.79 million. During the same quarter in the prior year, the business posted $2.75 EPS. Allegiant Travel’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts expect that Allegiant Travel will post $8.80 earnings per share for the current year.
Allegiant Travel announced that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Tuesday, November 21st. Allegiant Travel’s dividend payout ratio (DPR) is presently 30.08%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in ALGT. First Trust Advisors LP boosted its holdings in Allegiant Travel by 168.4% during the first quarter. First Trust Advisors LP now owns 7,022 shares of the transportation company’s stock worth $1,125,000 after buying an additional 4,406 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Allegiant Travel by 56.0% during the first quarter. Alliancebernstein L.P. now owns 36,162 shares of the transportation company’s stock worth $5,795,000 after buying an additional 12,978 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Allegiant Travel by 31.4% during the first quarter. OppenheimerFunds Inc. now owns 6,628 shares of the transportation company’s stock worth $1,062,000 after buying an additional 1,582 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Allegiant Travel by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,761 shares of the transportation company’s stock worth $16,307,000 after buying an additional 4,009 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Allegiant Travel by 3.9% during the first quarter. Teachers Advisors LLC now owns 23,021 shares of the transportation company’s stock worth $3,689,000 after buying an additional 874 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
About Allegiant Travel
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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