BidaskClub Lowers Allegiant Travel (ALGT) to Buy

Allegiant Travel (NASDAQ:ALGT) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other brokerages have also recently commented on ALGT. Morgan Stanley lowered their price target on Allegiant Travel from $172.00 to $171.00 and set an “equal weight” rating for the company in a research note on Friday, April 6th. ValuEngine raised Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Citigroup lowered their price target on Allegiant Travel from $195.00 to $193.00 and set a “buy” rating for the company in a research note on Tuesday, May 29th. Finally, Stifel Nicolaus lowered their price target on Allegiant Travel from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $165.49.

Shares of ALGT stock opened at $146.85 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.92 and a quick ratio of 0.89. The stock has a market capitalization of $2.41 billion, a PE ratio of 15.38, a P/E/G ratio of 0.43 and a beta of 0.06. Allegiant Travel has a one year low of $111.54 and a one year high of $181.45.



Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, April 25th. The transportation company reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.41. The company had revenue of $425.44 million during the quarter, compared to analysts’ expectations of $424.10 million. Allegiant Travel had a return on equity of 32.61% and a net margin of 13.42%. Allegiant Travel’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. sell-side analysts expect that Allegiant Travel will post 10.91 earnings per share for the current fiscal year.

In related news, CFO Scott Sheldon sold 4,542 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $159.67, for a total value of $725,221.14. Following the completion of the transaction, the chief financial officer now directly owns 18,278 shares in the company, valued at approximately $2,918,448.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ALGT. Elkfork Partners LLC acquired a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $184,000. D.A. Davidson & CO. acquired a new position in Allegiant Travel during the 1st quarter worth approximately $201,000. ARGI Investment Services LLC acquired a new position in Allegiant Travel during the 1st quarter worth approximately $207,000. Teacher Retirement System of Texas acquired a new position in Allegiant Travel during the 4th quarter worth approximately $216,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Allegiant Travel during the 1st quarter worth approximately $223,000. Institutional investors and hedge funds own 89.27% of the company’s stock.

Allegiant Travel Company Profile

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.

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.

Leave a Reply