Allegiant Travel Company (ALGT) Rating Reiterated by Stifel Nicolaus
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.
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.
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