ValuEngine downgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday morning.
A number of other analysts have also weighed in on the company. Imperial Capital reiterated an in-line rating and issued a $125.00 target price (down previously from $152.00) on shares of Allegiant Travel in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Evercore ISI upgraded Allegiant Travel from an in-line rating to an outperform rating and set a $180.00 target price on the stock in a research note on Thursday, December 6th. BidaskClub upgraded Allegiant Travel from a sell rating to a hold rating in a research note on Saturday, January 5th. Citigroup increased their target price on Allegiant Travel to $167.00 and gave the stock a buy rating in a research note on Thursday, January 10th. Finally, Morgan Stanley increased their target price on Allegiant Travel from $130.00 to $133.00 and gave the stock an equal weight rating in a research note on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $150.62.
ALGT stock opened at $127.36 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.93 and a current ratio of 0.96. Allegiant Travel has a twelve month low of $98.18 and a twelve month high of $179.45. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.28 and a beta of 0.88.
Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, January 30th. The transportation company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Allegiant Travel had a return on equity of 25.01% and a net margin of 9.70%. The business had revenue of $412.11 million for the quarter, compared to analyst estimates of $410.69 million. During the same quarter last year, the firm posted $5.18 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Allegiant Travel will post 13.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, February 28th. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. Allegiant Travel’s dividend payout ratio is currently 28.00%.
In other news, EVP Robert Paul Wilson III sold 486 shares of the firm’s stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $111.98, for a total transaction of $54,422.28. Following the transaction, the executive vice president now owns 17,330 shares in the company, valued at $1,940,613.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 9,737 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $128.05, for a total value of $1,246,822.85. Following the transaction, the chief executive officer now owns 2,987,079 shares in the company, valued at approximately $382,495,465.95. The disclosure for this sale can be found here. Company insiders own 20.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc grew its stake in Allegiant Travel by 100.0% in the fourth quarter. IFP Advisors Inc now owns 300 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 150 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Allegiant Travel by 45.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 541 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 168 shares during the last quarter. CSat Investment Advisory L.P. grew its stake in Allegiant Travel by 29.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 566 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 130 shares during the last quarter. LS Investment Advisors LLC grew its stake in Allegiant Travel by 161.7% in the fourth quarter. LS Investment Advisors LLC now owns 1,010 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 624 shares during the last quarter. Finally, Citigroup Inc. grew its stake in Allegiant Travel by 780.6% in the fourth quarter. Citigroup Inc. now owns 1,638 shares of the transportation company’s stock valued at $164,000 after purchasing an additional 1,452 shares during the last quarter. Hedge funds and other institutional investors own 80.48% of the company’s stock.
About Allegiant Travel
Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.
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