Brokerages Set Allegiant Travel (ALGT) Target Price at $145.20
Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $145.20.
Several research firms have recently commented on ALGT. Cowen reaffirmed a “market perform” rating and set a $158.00 price target (up previously from $145.00) on shares of Allegiant Travel in a research report on Friday, December 1st. Buckingham Research downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Raymond James Financial reiterated a “hold” rating on shares of Allegiant Travel in a report on Monday, December 4th. Zacks Investment Research upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $135.00 target price on shares of Allegiant Travel in a report on Thursday, October 26th.
In related news, CFO Scott Sheldon sold 5,872 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were 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 disclosure for this sale can be found here. Insiders own 21.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. lifted its position in Allegiant Travel by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 1,733 shares of the transportation company’s stock valued at $235,000 after acquiring an additional 18 shares during the last quarter. D.A. Davidson & CO. lifted its position in Allegiant Travel by 2.0% in 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. Amalgamated Bank lifted its position in Allegiant Travel by 4.4% in the second quarter. Amalgamated Bank now owns 1,823 shares of the transportation company’s stock valued at $247,000 after acquiring an additional 77 shares during the last quarter. Texas Permanent School Fund lifted its position in Allegiant Travel by 0.9% in the second quarter. Texas Permanent School Fund now owns 9,596 shares of the transportation company’s stock valued at $1,301,000 after acquiring an additional 81 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Allegiant Travel by 17.5% in 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. 86.22% of the stock is owned by hedge funds and other institutional investors.
Allegiant Travel (ALGT) traded down $0.15 on Monday, reaching $147.00. 70,824 shares of the company’s stock were exchanged, compared to its average volume of 138,017. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.05 and a quick ratio of 1.01. Allegiant Travel has a twelve month low of $111.54 and a twelve month high of $182.25. The stock has a market cap of $2,355.41, a price-to-earnings ratio of 15.74 and a beta of 0.16.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.08. The firm had revenue of $348.80 million for the quarter, compared to analyst estimates of $349.79 million. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.75 EPS. sell-side analysts forecast that Allegiant Travel will post 8.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Wednesday, November 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.90%. Allegiant Travel’s dividend payout ratio (DPR) is 30.08%.
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.
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