Deutsche Bank AG reissued their hold rating on shares of Allegiant Travel Company (NASDAQ:ALGT) in a research note released on Thursday. Deutsche Bank AG currently has a $130.00 price objective on the transportation company’s stock, down from their previous price objective of $153.00.

A number of other brokerages have also weighed in on ALGT. Cowen and Company restated a market perform rating and set a $150.00 price objective (down previously from $157.00) on shares of Allegiant Travel in a research report on Thursday. Zacks Investment Research upgraded Allegiant Travel from a hold rating to a buy rating and set a $159.00 price objective on the stock in a research report on Monday, July 17th. ValuEngine upgraded Allegiant Travel from a hold rating to a buy rating in a research report on Thursday, July 20th. Morgan Stanley restated an equal weight rating and set a $141.00 price objective (down previously from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Finally, Imperial Capital restated an in-line rating and set a $155.00 price objective (down previously from $170.00) on shares of Allegiant Travel in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $158.58.

Allegiant Travel (NASDAQ:ALGT) opened at 129.95 on Thursday. The company has a market cap of $2.10 billion, a PE ratio of 12.19 and a beta of -0.04. The company has a 50-day moving average price of $140.92 and a 200 day moving average price of $154.72. Allegiant Travel has a 12-month low of $121.70 and a 12-month high of $182.25.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by $0.02. Allegiant Travel had a return on equity of 37.39% and a net margin of 12.23%. The business had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same period last year, the firm posted $3.68 EPS. Allegiant Travel’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Allegiant Travel will post $9.71 EPS for the current fiscal year.

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Allegiant Travel announced that its board has approved a share repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $100.00 million in outstanding 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 often a sign that the company’s management believes its stock is undervalued.

In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the sale, the senior vice president now owns 15,054 shares in the company, valued at approximately $2,138,872.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Allegiant Travel by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after buying an additional 1,545,387 shares during the period. Vanguard Group Inc. raised its stake in Allegiant Travel by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock worth $185,482,000 after buying an additional 51,487 shares during the period. FMR LLC raised its stake in Allegiant Travel by 0.6% in the first quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock worth $149,439,000 after buying an additional 6,000 shares during the period. Neuberger Berman Group LLC raised its stake in Allegiant Travel by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock worth $96,377,000 after buying an additional 90,037 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Allegiant Travel by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 383,712 shares of the transportation company’s stock worth $61,490,000 after buying an additional 19,245 shares during the period. Hedge funds and other institutional investors own 82.55% 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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