Allegiant Travel’s (ALGT) “Sell” Rating Reaffirmed at Barclays PLC
Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “sell” rating reaffirmed by equities researchers at Barclays PLC in a research note issued to investors on Thursday. They currently have a $130.00 price objective on the transportation company’s stock. Barclays PLC’s price objective indicates a potential upside of 7.00% from the company’s previous close.
Several other research firms have also commented on ALGT. Cowen and Company reiterated a “market perform” rating and issued a $157.00 price target on shares of Allegiant Travel in a research report on Tuesday, May 30th. ValuEngine upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. 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 research report on Monday, July 17th. Sidoti reiterated a “buy” rating and issued a $186.00 price target (up previously from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Allegiant Travel presently has an average rating of “Hold” and an average target price of $153.75.
Shares of Allegiant Travel (ALGT) opened at 121.50 on Thursday. The stock has a 50 day moving average price of $123.37 and a 200-day moving average price of $143.06. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 11.40 and a beta of -0.01. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results 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). The company had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.68 EPS. Equities research analysts forecast that Allegiant Travel will post $9.19 earnings per share for the current year.
Allegiant Travel announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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Several institutional investors have recently bought and sold shares of ALGT. Wells Fargo & Company MN raised its stake in shares of Allegiant Travel by 72.8% during the first quarter. Wells Fargo & Company MN now owns 22,360 shares of the transportation company’s stock valued at $3,583,000 after acquiring an additional 9,423 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Allegiant Travel by 69.0% during the first quarter. Canada Pension Plan Investment Board now owns 4,900 shares of the transportation company’s stock valued at $785,000 after acquiring an additional 2,000 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Allegiant Travel by 7.3% during the first quarter. Great West Life Assurance Co. Can now owns 17,231 shares of the transportation company’s stock valued at $2,760,000 after acquiring an additional 1,171 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Allegiant Travel by 168.4% during the first quarter. First Trust Advisors LP now owns 7,022 shares of the transportation company’s stock valued at $1,125,000 after acquiring an additional 4,406 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Allegiant Travel by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 233,193 shares of the transportation company’s stock valued at $37,370,000 after acquiring an additional 1,515 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.
Allegiant Travel Company Profile
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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