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.

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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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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