Allegiant Travel (NASDAQ:ALGT) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a $200.00 price target on the transportation company’s stock, up from their previous price target of $150.00. Stifel Nicolaus’ price target indicates a potential upside of 19.94% from the company’s previous close.

Several other research analysts have also issued reports on ALGT. Macquarie initiated coverage on Allegiant Travel in a report on Monday, September 25th. They issued a “neutral” rating and a $119.00 price target on the stock. Citigroup cut their price target on Allegiant Travel from $175.00 to $168.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Bank of America reiterated a “neutral” rating and issued a $145.00 price target (down previously from $150.00) on shares of Allegiant Travel in a report on Tuesday, October 10th. Zacks Investment Research lowered Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Cowen reissued a “hold” rating and issued a $145.00 price objective on shares of Allegiant Travel in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $157.09.

Shares of Allegiant Travel (NASDAQ ALGT) traded up $0.15 during trading hours on Tuesday, reaching $166.75. The company’s stock had a trading volume of 84,390 shares, compared to its average volume of 169,409. The company has a market capitalization of $2,680.00, a price-to-earnings ratio of 17.74 and a beta of 0.16. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $180.40.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.08. The business had revenue of $348.80 million for the quarter, compared to analyst estimates of $349.79 million. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 earnings per share. equities research analysts expect that Allegiant Travel will post 8.68 earnings per share for the current year.

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total transaction of $148,850.00. Following the completion of the sale, the director now directly owns 2,120 shares of the company’s stock, valued at $315,562. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott Sheldon sold 5,872 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the sale, the chief financial officer now directly owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,568 shares of company stock valued at $48,550,676. Company insiders own 21.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 127 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Allegiant Travel by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after acquiring an additional 599 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of Allegiant Travel by 81.8% during the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after acquiring an additional 504 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Allegiant Travel by 2.0% during the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after acquiring an additional 23 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Allegiant Travel by 47.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock valued at $166,000 after acquiring an additional 402 shares during the last quarter. 86.16% of the stock is owned by institutional investors.

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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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