Allegiant Travel (NASDAQ:ALGT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, December 21st.
ALGT has been the subject of several other research reports. Cowen reiterated a “hold” rating and set a $145.00 price target on shares of Allegiant Travel in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Macquarie initiated coverage on shares of Allegiant Travel in a report on Monday, September 25th. They set a “neutral” rating and a $119.00 price objective for the company. Citigroup decreased their price objective on shares of Allegiant Travel from $175.00 to $168.00 and set a “buy” rating for the company in a report on Tuesday, September 26th. Finally, Deutsche Bank upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $180.00 in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $152.55.
Shares of Allegiant Travel (NASDAQ:ALGT) traded up $2.35 during midday trading on Thursday, hitting $165.50. 242,678 shares of the company’s stock were exchanged, compared to its average volume of 145,880. Allegiant Travel has a one year low of $111.54 and a one year high of $180.40. The company has a market capitalization of $2,660.00, a P/E ratio of 17.61 and a beta of 0.16. 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 (NASDAQ:ALGT) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share for the quarter, topping 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 32.19%. The company had revenue of $348.80 million during the quarter, compared to the consensus estimate of $349.79 million. During the same period in the previous year, the firm posted $2.75 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. research analysts expect that Allegiant Travel will post 8.64 earnings per share for the current year.
In other news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $148.85, for a total value of $148,850.00. Following the sale, the director now owns 2,120 shares of the company’s stock, valued at $315,562. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $155.74, for a total transaction of $2,774,975.32. The disclosure for this sale can be found here. In the last three months, insiders sold 40,708 shares of company stock worth $6,227,913. 21.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Diamond Hill Capital Management Inc. raised its position in shares of Allegiant Travel by 19,391.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 404,441 shares of the transportation company’s stock valued at $53,265,000 after purchasing an additional 402,366 shares during the period. Royce & Associates LP raised its position in shares of Allegiant Travel by 1,515.5% in the third quarter. Royce & Associates LP now owns 197,103 shares of the transportation company’s stock valued at $25,958,000 after purchasing an additional 184,902 shares during the period. Capital Research Global Investors raised its position in shares of Allegiant Travel by 33.6% in the second quarter. Capital Research Global Investors now owns 547,178 shares of the transportation company’s stock valued at $74,197,000 after purchasing an additional 137,600 shares during the period. FMR LLC raised its position in shares of Allegiant Travel by 8.7% in the second quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock valued at $137,508,000 after purchasing an additional 81,533 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Allegiant Travel by 96.3% in the third quarter. New York State Common Retirement Fund now owns 127,441 shares of the transportation company’s stock valued at $16,784,000 after purchasing an additional 62,520 shares during the period. 86.15% of the stock is currently owned by institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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