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.
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.
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