Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “hold” rating restated by stock analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $135.00 price target on the transportation company’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 4.49% from the stock’s current price.

A number of other research analysts have also issued reports on ALGT. Bank of America Corporation dropped their price objective on shares of Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, June 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $141.00 price objective (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Sidoti reiterated a “buy” rating and issued a $186.00 price objective (up previously from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a report on Monday, July 17th. Finally, ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $144.17.

Allegiant Travel (NASDAQ:ALGT) traded up 1.07% during midday trading on Thursday, hitting $141.35. 293,451 shares of the company were exchanged. Allegiant Travel has a one year low of $111.54 and a one year high of $182.25. The firm’s 50-day moving average price is $131.14 and its 200-day moving average price is $136.86. The stock has a market capitalization of $2.29 billion, a PE ratio of 13.26 and a beta of 0.03.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The business had revenue of $348.80 million during the quarter, compared to analyst estimates of $349.79 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.75 EPS. Equities research analysts anticipate that Allegiant Travel will post $8.89 earnings per share for the current year.

Allegiant Travel announced that its board has authorized a stock repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the transportation company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Allegiant Travel by 141,260.2% in the 1st quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after acquiring an additional 1,545,387 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Allegiant Travel by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,177,526 shares of the transportation company’s stock valued at $159,672,000 after acquiring an additional 20,068 shares in the last quarter. FMR LLC increased its stake in shares of Allegiant Travel by 8.7% in the 2nd quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock valued at $137,508,000 after acquiring an additional 81,533 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Allegiant Travel by 9.4% in the 2nd quarter. TimesSquare Capital Management LLC now owns 676,292 shares of the transportation company’s stock valued at $91,705,000 after acquiring an additional 58,065 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Allegiant Travel by 1.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 611,579 shares of the transportation company’s stock valued at $82,930,000 after acquiring an additional 10,163 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

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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