Allegiant Travel (ALGT) PT Raised to $167.00

Allegiant Travel (NASDAQ:ALGT) had its target price upped by equities researchers at Citigroup from $165.00 to $167.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price target points to a potential upside of 24.25% from the company’s current price.

Other equities research analysts have also issued reports about the company. Imperial Capital restated an “in-line” rating and set a $130.00 price target (up from $121.00) on shares of Allegiant Travel in a research report on Tuesday, September 18th. Cowen decreased their price objective on Allegiant Travel from $142.00 to $132.00 and set a “market perform” rating on the stock in a research report on Thursday, October 25th. BidaskClub lowered Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. ValuEngine upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Finally, TheStreet lowered Allegiant Travel from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $150.73.

NASDAQ ALGT opened at $134.41 on Thursday. The company has a market cap of $2.04 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.59 and a beta of 0.30. Allegiant Travel has a one year low of $105.21 and a one year high of $181.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.50 and a current ratio of 0.53.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). The business had revenue of $393.11 million for the quarter, compared to the consensus estimate of $390.30 million. Allegiant Travel had a return on equity of 26.83% and a net margin of 12.42%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $1.39 earnings per share. Analysts forecast that Allegiant Travel will post 9.47 earnings per share for the current fiscal year.

In other news, President John Redmond acquired 12,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were purchased at an average cost of $115.42 per share, for a total transaction of $1,385,040.00. Following the transaction, the president now owns 102,125 shares of the company’s stock, valued at $11,787,267.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 20.80% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Allegiant Travel by 4.6% in the 3rd quarter. BlackRock Inc. now owns 1,817,588 shares of the transportation company’s stock valued at $230,470,000 after purchasing an additional 79,958 shares during the period. Vanguard Group Inc. lifted its stake in shares of Allegiant Travel by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,273,151 shares of the transportation company’s stock valued at $161,435,000 after purchasing an additional 32,199 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Allegiant Travel by 1.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 683,606 shares of the transportation company’s stock valued at $86,681,000 after purchasing an additional 8,896 shares during the period. First Pacific Advisors LP lifted its stake in shares of Allegiant Travel by 9.0% in the 3rd quarter. First Pacific Advisors LP now owns 554,850 shares of the transportation company’s stock valued at $70,355,000 after purchasing an additional 45,651 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Allegiant Travel by 24.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 520,505 shares of the transportation company’s stock valued at $66,000,000 after purchasing an additional 101,366 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

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