Allegiant Travel (NASDAQ:ALGT) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $200.00 price target on the transportation company’s stock, up from their prior price target of $150.00. Stifel Nicolaus’ price target indicates a potential upside of 20.85% from the stock’s current price.
Several other research firms have also recently issued reports on ALGT. ValuEngine upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Imperial Capital increased their price objective on Allegiant Travel from $132.00 to $150.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 19th. Deutsche Bank upgraded Allegiant Travel from a “hold” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $180.00 in a research report on Thursday, December 21st. Cowen reiterated a “market perform” rating and issued a $158.00 price objective (up previously from $145.00) on shares of Allegiant Travel in a research report on Friday, December 1st. Finally, Raymond James Financial reiterated a “hold” rating on shares of Allegiant Travel in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have issued 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 a consensus target price of $157.09.
Shares of Allegiant Travel (ALGT) opened at $165.50 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78. Allegiant Travel has a fifty-two week low of $111.54 and a fifty-two week high of $180.40. The firm has a market capitalization of $2,660.89, a price-to-earnings ratio of 17.78 and a beta of 0.16.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. The firm had revenue of $348.80 million during the quarter, compared to analysts’ expectations of $349.79 million. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. Allegiant Travel’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 earnings per share. analysts anticipate that Allegiant Travel will post 8.64 EPS for the current year.
In other news, President John Redmond purchased 11,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $138.28 per share, for a total transaction of $1,521,080.00. Following the completion of the transaction, the president now directly owns 92,574 shares in the company, valued at approximately $12,801,132.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $155.74, for a total value of $2,774,975.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,708 shares of company stock valued at $6,227,913. Company insiders own 22.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in ALGT. SG Americas Securities LLC increased its position in Allegiant Travel by 154.9% during the 3rd quarter. SG Americas Securities LLC now owns 6,371 shares of the transportation company’s stock worth $839,000 after purchasing an additional 3,872 shares in the last quarter. State Street Corp increased its position in Allegiant Travel by 2.4% during the 2nd quarter. State Street Corp now owns 354,060 shares of the transportation company’s stock worth $48,013,000 after purchasing an additional 8,300 shares in the last quarter. AHL Partners LLP increased its position in Allegiant Travel by 309.1% during the 2nd quarter. AHL Partners LLP now owns 38,747 shares of the transportation company’s stock worth $5,254,000 after purchasing an additional 29,275 shares in the last quarter. Victory Capital Management Inc. increased its position in Allegiant Travel by 517.5% during the 3rd quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock worth $694,000 after purchasing an additional 4,414 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in Allegiant Travel during the 2nd quarter worth about $385,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
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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.
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