Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “hold” rating reiterated by equities researchers at Stifel Nicolaus in a report released on Friday. They presently have a $135.00 target price on the transportation company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 3.77% from the company’s current price.

Several other analysts have also recently issued reports on ALGT. Cowen and Company reissued a “market perform” rating and set a $157.00 price objective on shares of Allegiant Travel in a research note on Tuesday, May 30th. ValuEngine cut shares of Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Bank of America Corporation lowered their price objective on shares of Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, June 30th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $141.00 price objective (down from $144.00) on shares of Allegiant Travel in a research note on Monday, July 10th. Two 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 has a consensus rating of “Hold” and a consensus price target of $150.58.

Allegiant Travel (NASDAQ:ALGT) traded up 1.17% on Friday, hitting $130.10. The stock had a trading volume of 231,981 shares. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 12.20 and a beta of -0.01. Allegiant Travel has a one year low of $111.54 and a one year high of $182.25. The company’s 50-day moving average price is $121.52 and its 200 day moving average price is $141.23.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data 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 net margin of 12.23% and a return on equity of 37.66%. The company had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $399.58 million. During the same period in the prior year, the firm earned $3.68 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts expect that Allegiant Travel will post $9.17 earnings per share for the current year.

Allegiant Travel declared that its board has authorized a share repurchase plan on Wednesday, July 26th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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Large investors have recently bought and sold shares of the business. Bank of Montreal Can boosted its position in Allegiant Travel by 28.9% in the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock valued at $112,000 after buying an additional 186 shares during the last quarter. Victory Capital Management Inc. boosted its position in Allegiant Travel by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Allegiant Travel in the 1st quarter valued at about $146,000. Riverhead Capital Management LLC boosted its position in Allegiant Travel by 119.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after buying an additional 599 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in Allegiant Travel by 81.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after buying an additional 504 shares during the last quarter. 82.39% of the stock is owned by institutional investors.

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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