Allegiant Travel Company Shares Gap Up on Analyst Upgrade (ALGT)
Shares of Allegiant Travel Company (NASDAQ:ALGT) gapped up before the market opened on Tuesday after Cowen and Company raised their price target on the stock from $89.00 to $108.00, AnalystRatings.Net reports. The stock had previously closed at $110.10, but opened at $110.29. Cowen and Company currently has a hold rating on the stock. Allegiant Travel Company shares last traded at $112.24, with a volume of 91,564 shares.
A number of other analysts have also recently weighed in on ALGT. Analysts at Deutsche Bank upgraded shares of Allegiant Travel Company from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $130.00 price target on the stock, up previously from $110.00. Separately, analysts at Zacks upgraded shares of Allegiant Travel Company from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 11th. They now have a $109.90 price target on the stock. Finally, analysts at Raymond James upgraded shares of Allegiant Travel Company from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 6th. They now have a $118.00 price target on the stock. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Allegiant Travel Company has a consensus rating of “Buy” and an average target price of $114.11.
The stock has a 50-day moving average of $105. and a 200-day moving average of $104.2. The company has a market cap of $2.073 billion and a price-to-earnings ratio of 22.86.
Allegiant Travel Company (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.01. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $239.64 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Allegiant Travel Company will post $5.59 EPS for the current fiscal year.
Allegiant Travel Company is a leisure travel company focused on providing travel services and products to residents of small, underserved cities in the United States.
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