Share on StockTwits

Allegiant Travel Company (NASDAQ:ALGT) shares gapped up prior to trading on Wednesday after Imperial Capital raised their price target on the stock from $135.00 to $142.00, Analyst RN reports. The stock had previously closed at $118.46, but opened at $118.61. Imperial Capital currently has an outperform rating on the stock. Allegiant Travel Company shares last traded at $120.69, with a volume of 64,016 shares traded.

The analysts wrote, “We are maintaining our Outperform rating and raising our one-year price target to $142 from $135. “Additionally, we recently provided highlights on ALGT at the Imperial Capital Best Ideas Presentation Series held in New York on 5/20/14. Updated operating guidance released on 7/7/14 suggests that consumer demand remains robust for ALGT’s differentiated airline product. This differentiation has led ALGT to double-digit growth across revenue, earnings, and share appreciation since becoming a public company in 2006, which is a trend we expect to continue with additional aircraft deliveries through 2018 and the addition of new markets. “The company is expected to release its 2Q14 operating results after the close on 7/23/14. Our $142 price target represents 20% potential upside from recent trading levels.”

A number of other firms have also recently commented on ALGT. Analysts at Zacks upgraded shares of Allegiant Travel Company from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 2nd. They now have a $125.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Allegiant Travel Company from $108.00 to $111.00 in a research note on Thursday, April 24th. Finally, analysts at Barclays raised their price target on shares of Allegiant Travel Company from $115.00 to $130.00 in a research note on Thursday, April 17th. They now have an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $121.63.

The stock has a 50-day moving average of $117.8 and a 200-day moving average of $109.6. The company has a market cap of $2.200 billion and a P/E ratio of 23.70.

Allegiant Travel Company (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.79 by $0.07. The company had revenue of $302.50 million for the quarter, compared to the consensus estimate of $301.79 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts expect that Allegiant Travel Company will post $5.97 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.