Allegiant Travel’s (ALGT) In-Line Rating Reiterated at Imperial Capital

Imperial Capital reaffirmed their in-line rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have a $152.00 target price on the transportation company’s stock, up from their previous target price of $124.00. Imperial Capital also issued estimates for Allegiant Travel’s Q4 2018 earnings at $2.40 EPS, FY2018 earnings at $9.86 EPS, Q1 2019 earnings at $3.78 EPS, Q2 2019 earnings at $3.98 EPS, Q3 2019 earnings at $1.39 EPS, Q4 2019 earnings at $2.80 EPS, FY2019 earnings at $11.95 EPS and FY2020 earnings at $13.85 EPS.

ALGT has been the subject of several other research reports. BidaskClub raised shares of Allegiant Travel from a strong sell rating to a sell rating in a report on Tuesday, October 16th. Zacks Investment Research raised shares of Allegiant Travel from a sell rating to a hold rating in a report on Tuesday, September 11th. ValuEngine lowered shares of Allegiant Travel from a hold rating to a sell rating in a report on Wednesday, September 12th. Wolfe Research lowered shares of Allegiant Travel from an outperform rating to a peer perform rating in a report on Friday, September 14th. Finally, Goldman Sachs Group began coverage on shares of Allegiant Travel in a report on Monday, November 12th. They issued a buy rating and a $167.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $155.50.

ALGT opened at $135.13 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.50. Allegiant Travel has a 52 week low of $105.21 and a 52 week high of $181.45. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.59 and a beta of 0.32.



Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.02). Allegiant Travel had a net margin of 12.42% and a return on equity of 26.83%. The firm had revenue of $393.11 million during the quarter, compared to analyst estimates of $390.30 million. During the same period last year, the firm earned $1.39 EPS. Allegiant Travel’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Allegiant Travel will post 9.51 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 5th. Investors of record on Friday, November 23rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Wednesday, November 21st. Allegiant Travel’s payout ratio is presently 29.32%.

In related news, President John Redmond bought 12,000 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average cost of $115.42 per share, with a total value of $1,385,040.00. Following the purchase, the president now owns 102,125 shares in the company, valued at $11,787,267.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGT. BlackRock Inc. lifted its position in Allegiant Travel by 4.6% during the 3rd quarter. BlackRock Inc. now owns 1,817,588 shares of the transportation company’s stock worth $230,470,000 after buying an additional 79,958 shares in the last quarter. Vanguard Group Inc. lifted its position in Allegiant Travel by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,273,151 shares of the transportation company’s stock worth $161,435,000 after buying an additional 32,199 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Allegiant Travel by 1.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 683,606 shares of the transportation company’s stock worth $86,681,000 after buying an additional 8,896 shares in the last quarter. First Pacific Advisors LP lifted its position in Allegiant Travel by 9.0% during the 3rd quarter. First Pacific Advisors LP now owns 554,850 shares of the transportation company’s stock worth $70,355,000 after buying an additional 45,651 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Allegiant Travel by 24.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 520,505 shares of the transportation company’s stock worth $66,000,000 after buying an additional 101,366 shares in the last quarter. 86.08% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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