Allegiant Travel (NASDAQ:ALGT) Downgraded by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel (NASDAQ:ALGTFree Report) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat Ratings reports. They currently have $53.00 target price on the transportation company’s stock, down from their previous target price of $75.00.

ALGT has been the subject of several other research reports. UBS Group started coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They issued a sell rating and a $58.00 price objective for the company. Barclays decreased their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an equal weight rating for the company in a research note on Thursday, May 9th. TD Cowen decreased their price target on shares of Allegiant Travel from $65.00 to $60.00 and set a hold rating for the company in a research note on Wednesday, May 15th. Finally, Susquehanna reduced their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of Hold and an average target price of $73.50.

Read Our Latest Stock Report on ALGT

Allegiant Travel Stock Up 4.9 %

Shares of NASDAQ ALGT opened at $47.31 on Monday. The company has a market capitalization of $862.46 million, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.22 and a beta of 1.66. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $130.93. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. The company’s 50 day moving average price is $51.76 and its 200-day moving average price is $65.52.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. Allegiant Travel’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 EPS. Equities analysts forecast that Allegiant Travel will post 3.62 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is currently 75.95%.

Insider Buying and Selling

In related news, CMO Scott Wayne Deangelo sold 19,687 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the transaction, the chief marketing officer now directly owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Allegiant Travel news, EVP Robert Paul Wilson III sold 4,600 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the sale, the executive vice president now directly owns 75,698 shares of the company’s stock, valued at $4,087,692. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the sale, the chief marketing officer now directly owns 64,812 shares in the company, valued at $3,479,108.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,037 shares of company stock valued at $1,395,948. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently added to or reduced their stakes in ALGT. Invesco Ltd. lifted its holdings in Allegiant Travel by 17.3% during the third quarter. Invesco Ltd. now owns 80,583 shares of the transportation company’s stock valued at $6,194,000 after purchasing an additional 11,858 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Allegiant Travel by 361.1% during the third quarter. Tower Research Capital LLC TRC now owns 4,316 shares of the transportation company’s stock valued at $332,000 after buying an additional 3,380 shares during the period. Kennedy Capital Management LLC bought a new stake in shares of Allegiant Travel during the third quarter valued at about $1,177,000. Graham Capital Management L.P. bought a new stake in shares of Allegiant Travel during the third quarter valued at about $671,000. Finally, American Century Companies Inc. increased its position in shares of Allegiant Travel by 19.4% during the third quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company’s stock valued at $20,222,000 after buying an additional 42,688 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

About Allegiant Travel

(Get Free Report)

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.

Featured Stories

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.