Allegiant Travel (ALGT) Lowered to “Neutral” at Buckingham Research

Buckingham Research cut shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a neutral rating in a report released on Monday morning.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Allegiant Travel from a sell rating to a hold rating in a report on Monday. Cowen reissued a market perform rating and issued a $158.00 price target (up previously from $145.00) on shares of Allegiant Travel in a report on Friday. Stifel Nicolaus reissued a hold rating and issued a $135.00 price target on shares of Allegiant Travel in a report on Thursday, October 26th. Bank of America reissued a neutral rating and issued a $145.00 price target (down previously from $150.00) on shares of Allegiant Travel in a report on Tuesday, October 10th. Finally, Citigroup cut their price target on shares of Allegiant Travel from $175.00 to $168.00 and set a buy rating for the company in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $146.45.

Allegiant Travel (ALGT) traded up $4.30 during trading hours on Monday, hitting $151.80. 203,900 shares of the stock traded hands, compared to its average volume of 139,016. 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 stock has a market cap of $2,371.49, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 6.10 and a beta of 0.16. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $348.80 million during the quarter, compared to analyst estimates of $349.79 million. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 EPS. equities research analysts forecast that Allegiant Travel will post 8.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.84%. Allegiant Travel’s payout ratio is 30.08%.

In other Allegiant Travel news, CFO Scott Sheldon sold 5,872 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the transaction, the chief financial officer now owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President John Redmond bought 11,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was bought at an average cost of $138.28 per share, for a total transaction of $1,521,080.00. Following the transaction, the president now directly owns 92,574 shares of the company’s stock, valued at $12,801,132.72. The disclosure for this purchase can be found here. Corporate insiders own 22.00% of the company’s stock.

Large investors have recently modified their holdings of the business. Bank of Montreal Can increased its stake in Allegiant Travel by 28.9% during the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after purchasing an additional 186 shares during the period. Victory Capital Management Inc. increased its stake in Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after purchasing an additional 127 shares during the period. Riverhead Capital Management LLC increased its stake in Allegiant Travel by 119.8% during the second 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. Flinton Capital Management LLC increased its stake in shares of Allegiant Travel by 81.8% during the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after buying an additional 504 shares during the period. Finally, D.A. Davidson & CO. increased its stake in shares of Allegiant Travel by 2.0% during the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after buying an additional 23 shares during the period. Institutional investors own 86.22% of the company’s stock.

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About Allegiant Travel

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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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