Allegiant Travel (NASDAQ: ALGT) recently received a number of ratings updates from brokerages and research firms:

  • 8/1/2017 – Allegiant Travel was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/28/2017 – Allegiant Travel was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Even though shares of Allegiant have underperformed its industry so far this year, we remain positive on the improved scenario with respect to total revenue per available seat miles (TRASM). The metric improved 3.1% in the second quarter aided by the shift of Easter into April. Additionally, we are impressed by Allegiant’s efforts to reward shareholders. The company’s efforts to modernize its fleet are also encouraging. However, we remain mindful of the high labor costs, which hurt the bottom line in the second quarter. Consequently, earnings contracted 20.11% on a year-over-year basis and also missed the Zacks Consensus Estimate. High costs are expected to limit bottom-line growth in the third quarter as well.”
  • 7/27/2017 – Allegiant Travel had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $150.00 price target on the stock, down previously from $157.00.
  • 7/27/2017 – Allegiant Travel had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $130.00 price target on the stock, down previously from $153.00.
  • 7/20/2017 – Allegiant Travel was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/17/2017 – Allegiant Travel was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $159.00 price target on the stock. According to Zacks, “Even though shares of Allegiant have underperformed the Zacks categorized Transportation-Airline industry so far this year, we remain positive on the improved scenario with respect to total revenue per available seat miles (TRASM). In fact, while releasing its June traffic results, the company raised the lower end of the TRASM guidance for the second quarter of 2017.  Detailed results are scheduled to be revealed on Jul 26. Meanwhile, the positive sentiment surrounding the stock can be gauged from the fact that the Zacks Consensus Estimate for the quarter has moved up 5.4% in the last seven days to $2.94 per share. Additionally, we are impressed by Allegiant’s efforts to reward shareholders. The company’s efforts to modernize its fleet are also encouraging. However, we remain mindful of the high labor costs, which might hurt the bottom line in the second quarter.”
  • 7/12/2017 – Allegiant Travel had its “buy” rating reaffirmed by analysts at Sidoti. They now have a $186.00 price target on the stock, up previously from $183.00.
  • 7/10/2017 – Allegiant Travel had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $141.00 price target on the stock, down previously from $144.00.
  • 6/30/2017 – Allegiant Travel had its price target lowered by analysts at Bank of America Corporation from $175.00 to $165.00. They now have a “neutral” rating on the stock.
  • 6/27/2017 – Allegiant Travel was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Las Vegas-based ALLEGIANT TRAVEL COMPANY , is focused on linking travelers in small cities to world-class leisure destinations such as Las Vegas, Nev., Phoenix, Ariz., Fort Lauderdale, Fla., Orlando, Fla. and Tampa/St. Petersburg, Fla. Through its subsidiary, Allegiant Air, LLC, the Company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel related services. “

Allegiant Travel Company (NASDAQ:ALGT) traded down 0.53% during midday trading on Monday, hitting $130.75. The stock had a trading volume of 64,835 shares. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 12.26 and a beta of -0.05. Allegiant Travel Company has a 12 month low of $121.70 and a 12 month high of $182.25. The stock has a 50 day moving average of $140.24 and a 200 day moving average of $153.67.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by $0.02. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The business had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $399.58 million. During the same period in the previous year, the company posted $3.68 earnings per share. Allegiant Travel’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts expect that Allegiant Travel Company will post $9.39 EPS for the current fiscal year.

In related news, SVP Gregory Clark Anderson sold 1,500 shares of the 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 transaction, the senior vice president now directly owns 15,054 shares of the company’s stock, valued at $2,138,872.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.00% of the company’s stock.

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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