Allegiant Travel Co. (NASDAQ:ALGT) Given Average Rating of “Hold” by Brokerages
Allegiant Travel Co. (NASDAQ:ALGT) has been assigned a consensus rating of “Hold” from the twelve analysts that are covering the firm. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $173.83.
A number of analysts have recently weighed in on ALGT shares. Zacks Investment Research upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Thursday, July 7th. Credit Suisse Group AG set a $133.00 price target on shares of Allegiant Travel and gave the company a “hold” rating in a report on Tuesday, September 13th. Cowen and Company lowered their price target on shares of Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating on the stock in a report on Monday, August 1st. Stifel Nicolaus lowered their price target on shares of Allegiant Travel from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Raymond James Financial Inc. upgraded shares of Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Tuesday, June 14th.
Shares of Allegiant Travel (NASDAQ:ALGT) traded down 1.25% during mid-day trading on Tuesday, reaching $128.34. 78,951 shares of the company traded hands. Allegiant Travel has a 52 week low of $121.70 and a 52 week high of $228.79. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 9.14 and a beta of -0.07. The firm has a 50-day moving average price of $132.79 and a 200 day moving average price of $149.81.
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Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Friday, July 29th. The company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.13. Allegiant Travel had a net margin of 17.94% and a return on equity of 64.40%. The business had revenue of $344.90 million for the quarter, compared to analysts’ expectations of $343.11 million. During the same period last year, the business earned $3.18 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Allegiant Travel will post $13.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, August 17th. Allegiant Travel’s dividend payout ratio is presently 20.04%.
A number of institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its position in Allegiant Travel by 996.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 636 shares of the company’s stock worth $113,000 after buying an additional 578 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock worth $146,000 after buying an additional 502 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Allegiant Travel during the second quarter worth approximately $148,000. Bank of Montreal Can purchased a new stake in shares of Allegiant Travel during the second quarter worth approximately $151,000. Finally, Barclays PLC purchased a new stake in shares of Allegiant Travel during the second quarter worth approximately $155,000. 79.36% of the stock is owned by institutional investors.
About Allegiant Travel
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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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