Allegiant Travel Company’s (NASDAQ:ALGT) “Equal Weight” Rating Reiterated at Morgan Stanley
Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “equal weight” rating restated by stock analysts at Morgan Stanley in a research report issued to clients and investors on Monday. They presently have a $141.00 price objective on the transportation company’s stock, down from their prior price objective of $144.00. Morgan Stanley’s price target suggests a potential upside of 2.47% from the company’s previous close.
A number of other research analysts have also issued reports on the company. Bank of America Corporation reduced their price objective on Allegiant Travel Company from $175.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, June 30th. Zacks Investment Research upgraded Allegiant Travel Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. ValuEngine lowered Allegiant Travel Company from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company restated a “market perform” rating and set a $157.00 price objective on shares of Allegiant Travel Company in a research report on Tuesday, May 30th. Finally, Imperial Capital reduced their price objective on Allegiant Travel Company from $155.00 to $148.00 and set an “in-line” rating for the company in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Allegiant Travel Company currently has a consensus rating of “Hold” and a consensus price target of $158.80.
Shares of Allegiant Travel Company (NASDAQ:ALGT) opened at 139.45 on Monday. Allegiant Travel Company has a 12-month low of $121.70 and a 12-month high of $182.25. The firm has a market capitalization of $2.28 billion, a P/E ratio of 12.23 and a beta of -0.04. The stock has a 50 day moving average price of $141.42 and a 200 day moving average price of $158.54.
Allegiant Travel Company (NASDAQ:ALGT) last issued its earnings results on Tuesday, April 25th. The transportation company reported $2.50 EPS for the quarter, missing the consensus estimate of $2.58 by $0.08. The firm had revenue of $375.80 million during the quarter, compared to analyst estimates of $374.99 million. Allegiant Travel Company had a return on equity of 41.46% and a net margin of 13.61%. Allegiant Travel Company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.29 EPS. Equities analysts anticipate that Allegiant Travel Company will post $9.63 earnings per share for the current fiscal year.
In other Allegiant Travel Company news, SVP Gregory Clark Anderson sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total transaction of $213,120.00. Following the completion of the transaction, the senior vice president now owns 15,054 shares in the company, valued at approximately $2,138,872.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Allegiant Travel Company by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after buying an additional 1,545,387 shares during the period. Capital Research Global Investors acquired a new position in shares of Allegiant Travel Company during the third quarter worth about $40,082,000. Ardevora Asset Management LLP acquired a new position in shares of Allegiant Travel Company during the fourth quarter worth about $27,672,000. Select Equity Group L.P. acquired a new position in shares of Allegiant Travel Company during the fourth quarter worth about $23,950,000. Finally, Norges Bank acquired a new position in shares of Allegiant Travel Company during the fourth quarter worth about $20,094,000. Institutional investors own 83.58% of the company’s stock.
About Allegiant Travel Company
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. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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