Allegiant Travel (NASDAQ:ALGT) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a hold rating in a report issued on Wednesday, BidAskClub reports.

Several other equities analysts have also issued reports on ALGT. ValuEngine lowered Allegiant Travel from a hold rating to a sell rating in a research report on Thursday, August 1st. Imperial Capital reaffirmed an outperform rating and issued a $180.00 price target (up previously from $162.00) on shares of Allegiant Travel in a research report on Friday, April 26th. Buckingham Research lifted their price target on Allegiant Travel from $186.00 to $191.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Morgan Stanley reduced their price objective on Allegiant Travel from $140.00 to $132.00 and set an equal weight rating for the company in a report on Monday, May 20th. Finally, Sidoti lifted their price objective on Allegiant Travel from $178.00 to $180.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Allegiant Travel currently has an average rating of Buy and an average target price of $164.00.

ALGT opened at $142.81 on Wednesday. The stock has a 50-day moving average price of $146.55 and a 200-day moving average price of $139.18. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.29 and a quick ratio of 1.24. The firm has a market cap of $2.33 billion, a PE ratio of 14.28 and a beta of 0.89. Allegiant Travel has a 1 year low of $98.18 and a 1 year high of $157.50.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $4.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.34). The company had revenue of $491.80 million during the quarter, compared to analysts’ expectations of $504.81 million. Allegiant Travel had a return on equity of 26.59% and a net margin of 10.54%. Allegiant Travel’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.10 EPS. As a group, sell-side analysts anticipate that Allegiant Travel will post 13.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be issued a $0.70 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.80 annualized dividend and a yield of 1.96%. Allegiant Travel’s payout ratio is 28.00%.

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $144.83, for a total transaction of $144,830.00. Following the completion of the sale, the executive vice president now directly owns 16,477 shares in the company, valued at approximately $2,386,363.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 40,731 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $154.40, for a total value of $6,288,866.40. Following the sale, the chief executive officer now owns 2,889,421 shares of the company’s stock, valued at $446,126,602.40. The disclosure for this sale can be found here. Insiders sold a total of 77,000 shares of company stock valued at $11,713,663 over the last quarter. 20.90% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan grew its stake in shares of Allegiant Travel by 1.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,850 shares of the transportation company’s stock valued at $552,000 after purchasing an additional 70 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Allegiant Travel by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,943 shares of the transportation company’s stock valued at $640,000 after purchasing an additional 89 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Allegiant Travel by 1.3% during the 1st quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock valued at $908,000 after purchasing an additional 89 shares during the period. Bank of Montreal Can grew its stake in shares of Allegiant Travel by 2.5% during the 1st quarter. Bank of Montreal Can now owns 3,990 shares of the transportation company’s stock valued at $516,000 after purchasing an additional 98 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Allegiant Travel by 2.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,031 shares of the transportation company’s stock valued at $651,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 79.32% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

Further Reading: How do buyers and sellers choose a strike price?

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

Receive News & Ratings for Allegiant Travel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit