ValuEngine Downgrades Allegiant Travel (ALGT) to Strong Sell

Allegiant Travel (NASDAQ:ALGT) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the company. Buckingham Research reduced their price objective on Allegiant Travel from $179.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (down previously from $190.00) on shares of Allegiant Travel in a research report on Thursday, July 26th. TheStreet cut Allegiant Travel from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. Morgan Stanley reduced their price objective on Allegiant Travel from $164.00 to $156.00 and set an “equal weight” rating for the company in a research report on Thursday, July 12th. Finally, Zacks Investment Research raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Allegiant Travel has an average rating of “Hold” and an average price target of $151.40.

ALGT opened at $107.33 on Friday. The firm has a market cap of $1.73 billion, a P/E ratio of 11.24, a PEG ratio of 0.48 and a beta of 0.13. Allegiant Travel has a 1 year low of $105.21 and a 1 year high of $181.45. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.54.



Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The firm had revenue of $393.11 million for the quarter, compared to analyst estimates 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 for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. As a group, analysts predict that Allegiant Travel will post 9.49 earnings per share for the current year.

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

Several large investors have recently made changes to their positions in ALGT. First Trust Advisors LP increased its stake in shares of Allegiant Travel by 98.9% in the third quarter. First Trust Advisors LP now owns 17,380 shares of the transportation company’s stock worth $2,204,000 after purchasing an additional 8,641 shares during the period. Seven Eight Capital LP increased its stake in shares of Allegiant Travel by 48.1% in the third quarter. Seven Eight Capital LP now owns 12,884 shares of the transportation company’s stock worth $1,634,000 after purchasing an additional 4,184 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Allegiant Travel by 41.5% in the third quarter. Nisa Investment Advisors LLC now owns 6,510 shares of the transportation company’s stock worth $825,000 after purchasing an additional 1,910 shares during the period. RK Asset Management LLC increased its stake in shares of Allegiant Travel by 4.5% in the third quarter. RK Asset Management LLC now owns 40,426 shares of the transportation company’s stock worth $5,126,000 after purchasing an additional 1,758 shares during the period. Finally, Royal London Asset Management Ltd. bought a new position in shares of Allegiant Travel in the second quarter worth about $653,000. 87.61% of the stock is owned by institutional investors.

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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