Allegiant Travel’s (ALGT) “Hold” Rating Reaffirmed at Raymond James Financial

Raymond James Financial reissued their hold rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research report report published on Monday morning.

Several other brokerages have also issued reports on ALGT. Zacks Investment Research upgraded Allegiant Travel from a sell rating to a hold rating in a report on Monday. Buckingham Research lowered Allegiant Travel from a buy rating to a neutral rating in a report on Monday. Cowen reiterated a market perform rating and set a $158.00 price target (up from $145.00) on shares of Allegiant Travel in a report on Friday. Citigroup reduced their price target on Allegiant Travel from $175.00 to $168.00 and set a buy rating for the company in a report on Tuesday, September 26th. Finally, Morgan Stanley reduced their price target on Allegiant Travel from $139.00 to $133.00 and set an equal weight rating for the company in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Allegiant Travel presently has a consensus rating of Hold and a consensus price target of $146.45.

Allegiant Travel (ALGT) traded up $4.30 during trading hours on Monday, reaching $151.80. The company’s stock had a trading volume of 203,900 shares, compared to its average volume of 139,016. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78. Allegiant Travel has a 52 week low of $111.54 and a 52 week high of $182.25. The stock has a market cap of $2,371.49, a PE ratio of 15.84, a PEG ratio of 6.10 and a beta of 0.16.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Wednesday, November 22nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.84%. Allegiant Travel’s dividend payout ratio (DPR) is currently 30.08%.

In related news, CFO Scott Sheldon sold 5,872 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $137.63, for a total value of $808,163.36. Following the completion of the sale, the chief financial officer now directly owns 21,202 shares in the company, valued at approximately $2,918,031.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President John Redmond bought 11,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, October 27th. The stock was bought at an average price of $138.28 per share, with a total value of $1,521,080.00. Following the completion of the acquisition, the president now owns 92,574 shares in the company, valued at approximately $12,801,132.72. The disclosure for this purchase can be found here. 22.00% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of 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 buying an additional 186 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of 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 buying an additional 127 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of 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 buying an additional 599 shares during the last quarter. Flinton Capital Management LLC lifted its holdings 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 last quarter. Finally, D.A. Davidson & CO. lifted its holdings 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 last quarter. Institutional investors own 86.22% of the company’s stock.

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Allegiant Travel Company Profile

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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