Allegiant Travel (ALGT) Rating Increased to Hold at BidaskClub

Allegiant Travel (NASDAQ:ALGT) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities analysts also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Allegiant Travel from $130.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, November 14th. Goldman Sachs Group began coverage on shares of Allegiant Travel in a report on Monday, November 12th. They set a “buy” rating and a $167.00 price target on the stock. ValuEngine downgraded shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a report on Saturday, October 27th. Imperial Capital lowered their price target on shares of Allegiant Travel from $140.00 to $124.00 and set an “inline” rating on the stock in a report on Friday, October 26th. Finally, Cowen lowered their price target on shares of Allegiant Travel from $142.00 to $132.00 and set a “market perform” rating on the stock in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $153.09.

Shares of NASDAQ:ALGT opened at $123.41 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 1.01. Allegiant Travel has a 1-year low of $105.21 and a 1-year high of $181.45. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.56 and a beta of 0.30.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.02). Allegiant Travel had a net margin of 12.42% and a return on equity of 26.83%. The firm had revenue of $393.11 million for the quarter, compared to analysts’ expectations of $390.30 million. During the same period in the prior year, the firm earned $1.39 EPS. Allegiant Travel’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Allegiant Travel will post 9.47 EPS for the current fiscal year.

In related news, President John Redmond acquired 12,000 shares of Allegiant Travel stock in a transaction dated Wednesday, October 31st. The shares were purchased at an average price of $115.42 per share, for a total transaction of $1,385,040.00. Following the completion of the transaction, the president now directly owns 102,125 shares in the company, valued at approximately $11,787,267.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in shares of Allegiant Travel by 41.2% during the second quarter. Raymond James & Associates now owns 1,757 shares of the transportation company’s stock valued at $244,000 after buying an additional 513 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Allegiant Travel by 44.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,861 shares of the transportation company’s stock valued at $259,000 after buying an additional 569 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Allegiant Travel during the third quarter valued at approximately $242,000. Riverhead Capital Management LLC raised its position in shares of Allegiant Travel by 42.8% during the third quarter. Riverhead Capital Management LLC now owns 2,001 shares of the transportation company’s stock valued at $254,000 after buying an additional 600 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Allegiant Travel in the second quarter worth $312,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Allegiant Travel Company Profile

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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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