Allegiant Travel Company (ALGT) Rating Lowered to Strong Sell at BidaskClub
Allegiant Travel Company (NASDAQ:ALGT) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
Several other research firms also recently issued reports on ALGT. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Monday, July 17th. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Sidoti reaffirmed 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. Cowen and Company reaffirmed a “market perform” rating and issued a $157.00 price target on shares of Allegiant Travel in a research note on Tuesday, May 30th. Finally, Deutsche Bank AG downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $153.00 in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $157.92.
Allegiant Travel (ALGT) traded down 1.13% during midday trading on Tuesday, reaching $118.30. The company’s stock had a trading volume of 102,104 shares. The firm has a 50 day moving average price of $133.70 and a 200-day moving average price of $148.82. The firm has a market cap of $1.92 billion, a P/E ratio of 11.10 and a beta of -0.05. Allegiant Travel has a 52 week low of $117.50 and a 52 week high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly 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. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same quarter in the prior year, the business posted $3.68 EPS. The business’s revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Allegiant Travel will post $9.33 earnings per share for the current fiscal year.
Allegiant Travel announced that its board has authorized a share buyback program on Wednesday, July 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/22/allegiant-travel-company-algt-rating-lowered-to-strong-sell-at-bidaskclub.html.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its stake in Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after buying an additional 186 shares during the period. Victory Capital Management Inc. raised its stake in Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after buying an additional 127 shares during the period. Neuburgh Advisers LLC raised its stake in Allegiant Travel by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock worth $120,000 after buying an additional 68 shares during the period. James Investment Research Inc. purchased a new stake in Allegiant Travel during the first quarter worth $140,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Allegiant Travel during the first quarter worth $146,000. 85.73% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Allegiant Travel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel Company and related companies with MarketBeat.com's FREE daily email newsletter.