Allegiant Travel (NASDAQ:ALGT) Stock Rating Upgraded by Stifel Nicolaus

Stifel Nicolaus upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a buy rating in a report released on Tuesday, January 16th, Marketbeat.com reports. The brokerage currently has $200.00 price target on the transportation company’s stock, up from their prior price target of $150.00.

Other analysts have also issued reports about the company. ValuEngine upgraded Allegiant Travel from a hold rating to a buy rating in a research report on Thursday, December 21st. Deutsche Bank upgraded Allegiant Travel from a hold rating to a buy rating and raised their target price for the stock from $130.00 to $180.00 in a report on Thursday, December 21st. Citigroup cut their price objective on Allegiant Travel from $175.00 to $168.00 and set a buy rating on the stock in a report on Tuesday, September 26th. Bank of America upgraded Allegiant Travel from a neutral rating to a buy rating and set a $145.00 price objective on the stock in a report on Tuesday, January 9th. Finally, Cowen reiterated a hold rating and set a $145.00 price objective on shares of Allegiant Travel in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Allegiant Travel has a consensus rating of Hold and a consensus target price of $157.09.

Allegiant Travel (NASDAQ ALGT) opened at $167.70 on Tuesday. 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 has a 12 month low of $111.54 and a 12 month high of $178.45. The stock has a market capitalization of $2,705.91, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 2.46 and a beta of 0.16.

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, beating the Zacks’ consensus estimate of $1.31 by $0.08. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The company had revenue of $348.80 million during the quarter, compared to analyst estimates of $349.79 million. During the same period last year, the company posted $2.75 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. equities analysts anticipate that Allegiant Travel will post 8.67 EPS for the current fiscal year.

In related news, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $167.18, for a total transaction of $30,457,186.76. Following the completion of the sale, the chief executive officer now directly owns 3,071,196 shares in the company, valued at approximately $513,442,547.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 71,678 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $165.54, for a total value of $11,865,576.12. Following the completion of the transaction, the chief executive officer now directly owns 3,071,196 shares of the company’s stock, valued at approximately $508,405,785.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,568 shares of company stock valued at $48,550,676. Corporate insiders own 22.00% of the company’s stock.

Several hedge funds have recently modified their holdings of ALGT. Victory Capital Management Inc. increased its stake in shares of Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Allegiant Travel by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after buying an additional 599 shares during the period. Flinton Capital Management LLC increased its stake in shares of Allegiant Travel by 81.8% in the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after buying an additional 504 shares during the period. D.A. Davidson & CO. increased its stake in shares of Allegiant Travel by 2.0% in the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after buying an additional 23 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Allegiant Travel by 47.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock valued at $166,000 after buying an additional 402 shares during the period. 85.93% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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