Allegiant Travel (NASDAQ:ALGT) Upgraded at BidaskClub

BidaskClub upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report published on Thursday, BidAskClub reports.

A number of other research analysts have also weighed in on the company. Raymond James raised Allegiant Travel from an outperform rating to a strong-buy rating and upped their price objective for the stock from $115.00 to $135.00 in a report on Monday, June 22nd. Deutsche Bank upped their price objective on Allegiant Travel from $130.00 to $145.00 and gave the stock a buy rating in a report on Wednesday, September 9th. ValuEngine raised Allegiant Travel from a hold rating to a buy rating in a report on Monday, August 3rd. Stifel Nicolaus upped their price objective on Allegiant Travel from $123.00 to $127.00 and gave the stock a buy rating in a report on Thursday, July 30th. Finally, Goldman Sachs Group lowered Allegiant Travel from a buy rating to a neutral rating and upped their price objective for the stock from $133.00 to $142.00 in a report on Sunday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $144.15.

ALGT opened at $134.50 on Thursday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -89.07 and a beta of 1.51. Allegiant Travel has a 52 week low of $60.06 and a 52 week high of $183.26. The business’s 50 day moving average is $124.55 and its two-hundred day moving average is $104.30. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 1.73.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported ($5.96) EPS for the quarter, missing the consensus estimate of ($4.53) by ($1.43). The firm had revenue of $133.30 million for the quarter, compared to analyst estimates of $118.13 million. Allegiant Travel had a positive return on equity of 5.22% and a negative net margin of 1.54%. The company’s quarterly revenue was down 72.9% on a year-over-year basis. During the same period last year, the firm earned $4.33 EPS. Equities analysts expect that Allegiant Travel will post -10.11 EPS for the current fiscal year.

In related news, CEO Maurice J. Gallagher, Jr. sold 100,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $133.41, for a total value of $13,341,000.00. Following the completion of the transaction, the chief executive officer now owns 2,431,150 shares of the company’s stock, valued at $324,339,721.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Paul Wilson III sold 1,076 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $114.42, for a total value of $123,115.92. Following the completion of the transaction, the executive vice president now directly owns 7,331 shares of the company’s stock, valued at approximately $838,813.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 190,870 shares of company stock valued at $24,208,483. Insiders own 19.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc bought a new position in Allegiant Travel during the 2nd quarter worth approximately $39,000. Public Employees Retirement Association of Colorado lifted its holdings in Allegiant Travel by 152.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 573 shares of the transportation company’s stock worth $47,000 after buying an additional 346 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Allegiant Travel by 207.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 741 shares of the transportation company’s stock worth $81,000 after buying an additional 500 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Allegiant Travel during the 1st quarter worth approximately $155,000. Finally, Advisor Group Holdings Inc. bought a new position in Allegiant Travel during the 1st quarter worth approximately $214,000. 84.55% of the stock is owned by hedge funds and other 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.

See Also: Example of operating income, EBIT and EBITDA

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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