BidaskClub downgraded shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a hold rating in a report published on Thursday, January 25th.
A number of other research analysts have also recently commented on the stock. Stifel Nicolaus raised shares of Allegiant Travel from a hold rating to a buy rating and increased their target price for the stock from $150.00 to $200.00 in a report on Tuesday, January 16th. Bank of America raised Allegiant Travel from a neutral rating to a buy rating and set a $145.00 price objective for the company in a research note on Tuesday, January 9th. ValuEngine downgraded shares of Allegiant Travel from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Deutsche Bank raised shares of Allegiant Travel from a hold rating to a buy rating and increased their target price for the company from $130.00 to $180.00 in a research report on Thursday, December 21st. Finally, Imperial Capital increased their target price on shares of Allegiant Travel from $132.00 to $150.00 and gave the company an in-line rating in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Allegiant Travel has a consensus rating of Hold and an average target price of $163.27.
Shares of Allegiant Travel (NASDAQ:ALGT) opened at $163.55 on Thursday. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $178.20. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05. The firm has a market cap of $2,565.23, a PE ratio of 13.67, a P/E/G ratio of 0.50 and a beta of 0.17.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, January 31st. The transportation company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.93. The firm had revenue of $378.56 million during the quarter, compared to analysts’ expectations of $377.25 million. Allegiant Travel had a net margin of 12.96% and a return on equity of 32.60%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.48 earnings per share. analysts expect that Allegiant Travel will post 10.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, March 1st. Allegiant Travel’s dividend payout ratio is currently 23.41%.
In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the transaction, the director now directly owns 2,120 shares in the company, valued at approximately $315,562. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the stock in a transaction on Friday, December 29th. The stock was 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. Over the last quarter, insiders sold 288,696 shares of company stock worth $47,742,513. 22.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of ALGT. Schwab Charles Investment Management Inc. lifted its stake in Allegiant Travel by 8.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,170 shares of the transportation company’s stock valued at $10,736,000 after acquiring an additional 5,991 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Allegiant Travel by 119.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after purchasing an additional 599 shares during the period. Teachers Advisors LLC raised its stake in shares of Allegiant Travel by 3.8% during the 2nd quarter. Teachers Advisors LLC now owns 23,901 shares of the transportation company’s stock worth $3,241,000 after purchasing an additional 880 shares during the period. Amalgamated Bank raised its stake in shares of Allegiant Travel by 4.4% during the 2nd quarter. Amalgamated Bank now owns 1,823 shares of the transportation company’s stock worth $247,000 after purchasing an additional 77 shares during the period. Finally, Laurion Capital Management LP bought a new stake in shares of Allegiant Travel during the 2nd quarter worth $488,000. Institutional investors and hedge funds own 85.22% 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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