Allegiant Travel Company (NASDAQ:ALGT) had its price objective decreased by equities researchers at Morgan Stanley from $139.00 to $133.00 in a report released on Thursday. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s target price suggests a potential upside of 7.78% from the stock’s previous close.

ALGT has been the subject of a number of other reports. Bank of America Corporation downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $205.00 to $175.00 in a report on Wednesday, April 26th. Cowen and Company reduced their price target on shares of Allegiant Travel from $162.00 to $157.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 26th. Deutsche Bank AG cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $153.00 in a research report on Wednesday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $173.00 price target on shares of Allegiant Travel in a research report on Wednesday, April 19th. Finally, Imperial Capital reaffirmed an “in-line” rating and set a $155.00 price target (down from $170.00) on shares of Allegiant Travel in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $157.92.

Allegiant Travel (NASDAQ:ALGT) traded down 0.16% on Thursday, hitting $123.20. 7,952 shares of the company’s stock traded hands. The stock has a 50-day moving average of $135.16 and a 200-day moving average of $150.07. Allegiant Travel has a one year low of $120.15 and a one year high of $182.25. The stock has a market cap of $2.00 billion, a PE ratio of 11.56 and a beta of -0.05.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by $0.02. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The company had revenue of $400.60 million during the quarter, compared to analyst estimates of $399.58 million. During the same quarter last year, the business earned $3.68 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities analysts forecast that Allegiant Travel will post $9.38 earnings per share for the current fiscal year.

Allegiant Travel declared that its board has authorized a share repurchase program on Wednesday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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In related 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 value 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 approximately $2,138,872.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.00% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased 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 valued at $247,824,000 after buying an additional 1,545,387 shares in the last quarter. Vanguard Group Inc. boosted its stake in Allegiant Travel by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,177,526 shares of the transportation company’s stock valued at $159,672,000 after buying an additional 20,068 shares in the last quarter. FMR LLC boosted its stake in Allegiant Travel by 8.7% in the second quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock valued at $137,508,000 after buying an additional 81,533 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Allegiant Travel by 9.4% in the second quarter. TimesSquare Capital Management LLC now owns 676,292 shares of the transportation company’s stock valued at $91,705,000 after buying an additional 58,065 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Allegiant Travel by 1.7% in the second quarter. Neuberger Berman Group LLC now owns 611,579 shares of the transportation company’s stock valued at $82,930,000 after buying an additional 10,163 shares in the last quarter. Institutional investors and hedge funds own 85.73% 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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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