Allegiant Travel Company (NASDAQ:ALGT) Earns Hold Rating from Deutsche Bank AG
Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “hold” rating restated by investment analysts at Deutsche Bank AG in a research report issued to clients and investors on Thursday. They presently have a $130.00 price target on the transportation company’s stock, down from their previous price target of $153.00. Deutsche Bank AG’s target price would indicate a potential downside of 1.40% from the stock’s current price.
Other research analysts have also issued reports about the company. Sidoti reaffirmed a “buy” rating and set a $186.00 target price (up from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a report on Monday, July 17th. ValuEngine upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and set a $141.00 price target (down from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $173.00 price target on shares of Allegiant Travel in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Allegiant Travel has an average rating of “Hold” and an average price target of $158.58.
Allegiant Travel (NASDAQ ALGT) traded down 7.93% during midday trading on Thursday, hitting $131.85. The stock had a trading volume of 564,994 shares. The firm has a market cap of $2.16 billion, a P/E ratio of 11.56 and a beta of -0.04. Allegiant Travel has a 52 week low of $121.70 and a 52 week high of $182.25. The stock has a 50-day moving average of $141.13 and a 200-day moving average of $155.00.
Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by $0.02. The company had revenue of $400.60 million for the quarter, compared to the consensus estimate of $399.58 million. Allegiant Travel had a return on equity of 41.46% and a net margin of 13.61%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.68 earnings per share. Analysts forecast that Allegiant Travel will post $9.77 EPS for the current fiscal year.
Allegiant Travel declared that its board has initiated a share repurchase plan on Wednesday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the transportation company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.00% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of ALGT. Bank of Montreal Can boosted its position in Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock valued at $112,000 after buying an additional 186 shares in the last quarter. Neuburgh Advisers LLC boosted its position in Allegiant Travel by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock valued at $120,000 after buying an additional 68 shares in the last quarter. James Investment Research Inc. purchased a new position in Allegiant Travel during the first quarter valued at approximately $140,000. Oppenheimer Asset Management Inc. purchased a new position in Allegiant Travel during the first quarter valued at approximately $146,000. Finally, Americafirst Capital Management LLC purchased a new position in Allegiant Travel during the first quarter valued at approximately $180,000. 82.57% of the stock is currently owned by hedge funds and other 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. 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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