ValuEngine downgraded shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a sell rating in a research note released on Wednesday morning.

A number of other brokerages have also recently weighed in on ALGT. Morgan Stanley decreased their price objective on Allegiant Travel from $164.00 to $156.00 and set an equal weight rating on the stock in a report on Thursday, July 12th. Barclays decreased their price objective on Allegiant Travel from $135.00 to $117.00 and set an underweight rating on the stock in a report on Monday, July 16th. BidaskClub raised Allegiant Travel from a sell rating to a hold rating in a report on Friday, August 10th. Imperial Capital decreased their price objective on Allegiant Travel from $165.00 to $121.00 and set an inline rating on the stock in a report on Friday, July 27th. Finally, Stifel Nicolaus reissued a buy rating and set a $160.00 price objective (down from $190.00) on shares of Allegiant Travel in a report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $152.36.

NASDAQ:ALGT opened at $122.75 on Wednesday. Allegiant Travel has a twelve month low of $117.30 and a twelve month high of $181.45. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.48 and a beta of 0.16. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.83 and a current ratio of 0.87.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.44. Allegiant Travel had a return on equity of 30.22% and a net margin of 13.21%. The firm had revenue of $436.80 million for the quarter, compared to analysts’ expectations of $437.69 million. During the same quarter last year, the firm posted $2.94 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. research analysts expect that Allegiant Travel will post 9.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.28%. Allegiant Travel’s dividend payout ratio is 29.32%.

In related news, EVP Robert Paul Wilson III sold 380 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total transaction of $51,303.80. Following the transaction, the executive vice president now directly owns 17,816 shares of the company’s stock, valued at approximately $2,405,338.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 20.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. grew its position in Allegiant Travel by 1.8% during the 2nd quarter. Bessemer Group Inc. now owns 21,475 shares of the transportation company’s stock worth $2,984,000 after acquiring an additional 385 shares during the last quarter. Wells Fargo & Company MN grew its position in Allegiant Travel by 1.9% during the 1st quarter. Wells Fargo & Company MN now owns 21,012 shares of the transportation company’s stock worth $3,625,000 after acquiring an additional 399 shares during the last quarter. Rhumbline Advisers grew its position in Allegiant Travel by 1.3% during the 1st quarter. Rhumbline Advisers now owns 31,459 shares of the transportation company’s stock worth $5,428,000 after acquiring an additional 400 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Allegiant Travel by 10.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 4,580 shares of the transportation company’s stock worth $790,000 after acquiring an additional 415 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Allegiant Travel by 1.8% during the 1st quarter. Legal & General Group Plc now owns 23,937 shares of the transportation company’s stock worth $4,103,000 after acquiring an additional 426 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

About Allegiant Travel

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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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