Allegiant Travel Company (ALGT) Receives Average Recommendation of “Hold” from Analysts
Allegiant Travel Company (NASDAQ:ALGT) has received an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $142.82.
A number of research firms have recently commented on ALGT. BidaskClub downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company reiterated a “hold” rating and issued a $145.00 price objective on shares of Allegiant Travel in a report on Tuesday, October 17th. Citigroup Inc. dropped their price objective on Allegiant Travel from $175.00 to $168.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Morgan Stanley decreased their target price on Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating for the company in a research report on Thursday, August 17th. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $145.00 target price (down from $150.00) on shares of Allegiant Travel in a research report on Tuesday, October 10th.
Shares of Allegiant Travel (NASDAQ:ALGT) traded up 1.19% during midday trading on Friday, reaching $140.30. The company’s stock had a trading volume of 79,237 shares. Allegiant Travel has a 12-month low of $111.54 and a 12-month high of $182.25. The company has a market cap of $2.27 billion, a P/E ratio of 13.16 and a beta of 0.03. The stock’s 50-day moving average price is $129.61 and its 200-day moving average price is $137.37.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.02). Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The business had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $399.58 million. During the same quarter in the previous year, the company posted $3.68 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. On average, analysts expect that Allegiant Travel will post $8.89 EPS for the current fiscal year.
Allegiant Travel announced that its board has authorized a share repurchase program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the transportation company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of ALGT. Bank of Montreal Can lifted its position in Allegiant Travel by 28.9% during the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after acquiring an additional 186 shares during the period. Victory Capital Management Inc. lifted its position in Allegiant Travel by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after acquiring an additional 127 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Allegiant Travel during the 1st quarter worth approximately $146,000. Riverhead Capital Management LLC lifted its position in Allegiant Travel by 119.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after acquiring an additional 599 shares during the period. Finally, Flinton Capital Management LLC lifted its position in Allegiant Travel by 81.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after acquiring an additional 504 shares during the period. 82.36% of the stock is owned by 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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