Cowen Cuts Allegiant Travel (ALGT) Price Target to $132.00

Allegiant Travel (NASDAQ:ALGT) had its price target decreased by Cowen from $142.00 to $132.00 in a research note published on Thursday. Cowen currently has a market perform rating on the transportation company’s stock.

Several other equities analysts have also recently weighed in on ALGT. BidaskClub cut Allegiant Travel from a sell rating to a strong sell rating in a report on Thursday, June 28th. ValuEngine cut Allegiant Travel from a hold rating to a sell rating in a report on Wednesday, June 27th. Zacks Investment Research upgraded Allegiant Travel from a sell rating to a hold rating in a report on Wednesday, July 11th. Imperial Capital decreased their price objective on Allegiant Travel from $165.00 to $121.00 and set an inline rating for the company in a report on Friday, July 27th. Finally, Buckingham Research decreased their price objective on Allegiant Travel from $179.00 to $165.00 and set a buy rating for the company in a report on Thursday, July 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $151.40.

Shares of NASDAQ ALGT opened at $107.33 on Thursday. The stock has a market capitalization of $1.73 billion, a PE ratio of 11.24, a P/E/G ratio of 0.48 and a beta of 0.13. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.87 and a quick ratio of 0.83. Allegiant Travel has a fifty-two week low of $105.21 and a fifty-two week high of $181.45.



Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). The company had revenue of $393.11 million during the quarter, compared to the consensus estimate of $390.30 million. Allegiant Travel had a net margin of 12.42% and a return on equity of 27.46%. Allegiant Travel’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 EPS. As a group, sell-side analysts forecast that Allegiant Travel will post 9.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Friday, November 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, November 21st. Allegiant Travel’s payout ratio is currently 29.32%.

In related news, EVP Robert Paul Wilson III sold 380 shares of Allegiant Travel stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total transaction of $51,303.80. Following the completion of the transaction, the executive vice president now owns 17,816 shares in the company, valued at $2,405,338.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Allegiant Travel by 8.9% during the second quarter. BlackRock Inc. now owns 1,737,630 shares of the transportation company’s stock worth $241,443,000 after purchasing an additional 142,477 shares during the period. Dimensional Fund Advisors LP grew its holdings in Allegiant Travel by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 430,716 shares of the transportation company’s stock worth $59,848,000 after purchasing an additional 5,280 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Allegiant Travel by 4.6% during the second quarter. Diamond Hill Capital Management Inc. now owns 419,139 shares of the transportation company’s stock worth $58,239,000 after purchasing an additional 18,564 shares during the period. Schroder Investment Management Group grew its holdings in Allegiant Travel by 206.3% during the second quarter. Schroder Investment Management Group now owns 323,012 shares of the transportation company’s stock worth $4,970,000 after purchasing an additional 217,539 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Allegiant Travel by 5.1% during the second quarter. Janus Henderson Group PLC now owns 288,054 shares of the transportation company’s stock worth $40,025,000 after purchasing an additional 14,023 shares during the period. Institutional investors and hedge funds own 87.61% of the company’s stock.

About Allegiant Travel

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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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