Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average recommendation of “Buy” from the seventeen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $156.58.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank set a $160.00 price target on shares of Allegiant Travel and gave the stock a “buy” rating in a report on Friday, March 1st. ValuEngine cut shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 12th. BidaskClub cut shares of Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Imperial Capital restated an “outperform” rating and issued a $168.00 price objective on shares of Allegiant Travel in a research report on Wednesday, March 20th. Finally, Macquarie upgraded shares of Allegiant Travel from a “neutral” rating to an “outperform” rating and set a $149.00 price objective on the stock in a research report on Tuesday, March 26th.
ALGT stock traded down $3.98 during mid-day trading on Friday, hitting $141.99. The stock had a trading volume of 90,493 shares, compared to its average volume of 165,057. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.63. Allegiant Travel has a 52 week low of $98.18 and a 52 week high of $150.40. The firm has a market cap of $2.34 billion, a P/E ratio of 14.20 and a beta of 0.92.
Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.88 by $0.10. The firm had revenue of $451.60 million for the quarter, compared to analyst estimates of $452.24 million. Allegiant Travel had a net margin of 9.67% and a return on equity of 25.13%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $3.42 EPS. Equities analysts predict that Allegiant Travel will post 13.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, June 13th. Allegiant Travel’s dividend payout ratio (DPR) is presently 28.00%.
In other news, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $147.75, for a total transaction of $7,600,407.75. Following the completion of the sale, the chief executive officer now owns 2,929,920 shares of the company’s stock, valued at $432,895,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.77, for a total value of $7,081,138.40. Following the sale, the chief executive officer now directly owns 2,929,920 shares of the company’s stock, valued at approximately $432,954,278.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,406 shares of company stock valued at $15,689,173. Insiders own 20.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Commerce Bank lifted its stake in Allegiant Travel by 14.5% in the first quarter. Commerce Bank now owns 3,672 shares of the transportation company’s stock worth $475,000 after acquiring an additional 464 shares during the period. Rafferty Asset Management LLC purchased a new stake in Allegiant Travel in the fourth quarter worth $425,000. Parametrica Management Ltd purchased a new stake in Allegiant Travel in the fourth quarter worth $368,000. Diamond Hill Capital Management Inc. lifted its stake in Allegiant Travel by 14.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 597,208 shares of the transportation company’s stock worth $59,852,000 after acquiring an additional 76,703 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Allegiant Travel in the first quarter worth $258,000. 79.78% of the stock is owned by institutional investors.
Allegiant Travel Company Profile
Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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