Allegiant Travel (NASDAQ:ALGT) Rating Increased to Hold at BidaskClub

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

ALGT has been the topic of several other reports. Morgan Stanley raised their price target on Allegiant Travel from $132.00 to $150.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. ValuEngine downgraded Allegiant Travel from a hold rating to a sell rating in a research note on Thursday, August 1st. Sidoti raised their target price on Allegiant Travel from $178.00 to $180.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Buckingham Research raised their target price on Allegiant Travel from $186.00 to $191.00 and gave the company a buy rating in a report on Thursday, July 25th. Finally, Citigroup lifted their price target on Allegiant Travel from $180.00 to $182.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Allegiant Travel presently has an average rating of Buy and an average price target of $164.00.

NASDAQ ALGT opened at $147.20 on Friday. Allegiant Travel has a 1 year low of $98.18 and a 1 year high of $157.50. The company has a fifty day simple moving average of $145.48 and a 200 day simple moving average of $139.92. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 1.66. The company has a market cap of $2.43 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.34 and a beta of 0.91.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 24th. The transportation company reported $4.33 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.34). The firm had revenue of $491.80 million during the quarter, compared to the consensus estimate of $504.81 million. Allegiant Travel had a return on equity of 26.59% and a net margin of 10.54%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.10 EPS. Equities research analysts forecast that Allegiant Travel will post 14.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, September 19th. Allegiant Travel’s dividend payout ratio is currently 28.00%.

In other news, CEO Maurice J. Gallagher, Jr. sold 10,778 shares of Allegiant Travel stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $148.17, for a total transaction of $1,596,976.26. Following the sale, the chief executive officer now owns 2,910,176 shares of the company’s stock, valued at approximately $431,200,777.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $145.10, for a total value of $145,100.00. Following the sale, the director now owns 2,000 shares in the company, valued at $290,200. The disclosure for this sale can be found here. Insiders have sold 77,000 shares of company stock valued at $11,713,663 in the last ninety days. 20.90% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Allegiant Travel by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 146,504 shares of the transportation company’s stock valued at $14,682,000 after buying an additional 9,932 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Allegiant Travel in the first quarter valued at about $258,000. Bank of Montreal Can increased its stake in Allegiant Travel by 2.5% in the first quarter. Bank of Montreal Can now owns 3,990 shares of the transportation company’s stock valued at $516,000 after acquiring an additional 98 shares during the period. Arizona State Retirement System raised its position in Allegiant Travel by 0.9% in the first quarter. Arizona State Retirement System now owns 19,841 shares of the transportation company’s stock worth $2,569,000 after purchasing an additional 181 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Allegiant Travel in the first quarter worth about $761,000. 80.71% 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.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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