Allegiant Travel Company (ALGT) Stock Rating Upgraded by ValuEngine
Allegiant Travel Company (NASDAQ:ALGT) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Monday. Sidoti reissued a “buy” rating and issued a $186.00 price target (up from $183.00) on shares of Allegiant Travel in a research note on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and issued a $141.00 price target (down from $144.00) on shares of Allegiant Travel in a research note on Monday, July 10th. Bank of America Corporation decreased their price target on shares of Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, June 30th. Finally, Cowen and Company restated a “market perform” rating and set a $157.00 price objective on shares of Allegiant Travel in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $161.08.
Shares of Allegiant Travel (NASDAQ:ALGT) traded up 0.21% during trading on Thursday, reaching $144.30. 105,502 shares of the company traded hands. The stock has a market capitalization of $2.36 billion, a PE ratio of 12.65 and a beta of -0.04. The firm has a 50 day moving average of $140.66 and a 200 day moving average of $155.85. Allegiant Travel has a 52 week low of $121.70 and a 52 week high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by $0.08. The business had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $374.99 million. Allegiant Travel had a return on equity of 41.46% and a net margin of 13.61%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.29 earnings per share. On average, equities analysts predict that Allegiant Travel will post $9.84 EPS for the current year.
In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of Allegiant Travel stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total transaction of $213,120.00. Following the completion of the sale, the senior vice president now directly owns 15,054 shares in the company, valued at $2,138,872.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.00% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in ALGT. BlackRock Inc. boosted its stake in shares of Allegiant Travel 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Allegiant Travel by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock worth $185,482,000 after buying an additional 51,487 shares in the last quarter. FMR LLC boosted its stake in shares of Allegiant Travel by 0.6% in the first quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock worth $149,439,000 after buying an additional 6,000 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Allegiant Travel by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock worth $96,377,000 after buying an additional 90,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Allegiant Travel by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 383,712 shares of the transportation company’s stock worth $61,490,000 after buying an additional 19,245 shares in the last quarter. Institutional investors and hedge funds own 83.60% of the company’s stock.
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. 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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