Allegiant Travel (ALGT) Hits New 52-Week Low at $117.30

Shares of Allegiant Travel (NASDAQ:ALGT) hit a new 52-week low during trading on Friday . The company traded as low as $117.30 and last traded at $122.60, with a volume of 14338 shares. The stock had previously closed at $122.40.

ALGT has been the topic of a number of recent research reports. Buckingham Research lowered their target price on Allegiant Travel from $179.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. Stifel Nicolaus restated a “buy” rating and issued a $160.00 target price (down previously from $190.00) on shares of Allegiant Travel in a research note on Thursday, July 26th. BidaskClub downgraded Allegiant Travel from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Citigroup lowered their target price on Allegiant Travel from $195.00 to $193.00 and set a “buy” rating on the stock in a research note on Tuesday, May 29th. Finally, Morgan Stanley lowered their target price on Allegiant Travel from $164.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 12th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Allegiant Travel has an average rating of “Hold” and an average price target of $152.36.

The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.48 and a beta of 0.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.54.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.44. The company had revenue of $436.80 million during the quarter, compared to analysts’ expectations of $437.69 million. Allegiant Travel had a return on equity of 30.22% and a net margin of 13.21%. Allegiant Travel’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.94 EPS. research analysts predict that Allegiant Travel will post 9.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.28%. Allegiant Travel’s payout ratio is 29.32%.

In related news, EVP Robert Paul Wilson III sold 380 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total value of $51,303.80. Following the completion of the transaction, the executive vice president now owns 17,816 shares of the company’s stock, valued at approximately $2,405,338.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in ALGT. D.A. Davidson & CO. acquired a new position in shares of Allegiant Travel during the first quarter valued at approximately $201,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Allegiant Travel during the first quarter valued at approximately $223,000. Bayesian Capital Management LP acquired a new position in shares of Allegiant Travel during the first quarter valued at approximately $236,000. Raymond James & Associates raised its holdings 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 acquiring an additional 513 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Allegiant Travel during the second quarter valued at approximately $312,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Company Profile (NASDAQ:ALGT)

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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