Allegiant Travel (NASDAQ:ALGT) Cut to Buy at BidaskClub

BidaskClub lowered shares of Allegiant Travel (NASDAQ:ALGT) from a strong-buy rating to a buy rating in a research report report published on Wednesday, BidAskClub reports.

A number of other equities analysts have also weighed in on the stock. ValuEngine lowered shares of Allegiant Travel from a sell rating to a strong sell rating in a report on Tuesday, March 12th. Imperial Capital reiterated an outperform rating and issued a $180.00 price target (up previously from $162.00) on shares of Allegiant Travel in a report on Friday, April 26th. Deutsche Bank set a $160.00 target price on shares of Allegiant Travel and gave the company a buy rating in a report on Friday, March 1st. Zacks Investment Research lowered shares of Allegiant Travel from a buy rating to a hold rating in a report on Tuesday, April 2nd. Finally, Macquarie upgraded shares of Allegiant Travel from a neutral rating to an outperform rating and set a $149.00 target price on the stock in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Allegiant Travel has a consensus rating of Buy and a consensus price target of $153.54.

Shares of ALGT opened at $143.89 on Wednesday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.39 and a beta of 0.92. Allegiant Travel has a fifty-two week low of $98.18 and a fifty-two week high of $152.35. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63.



Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $3.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.10. The company had revenue of $451.60 million for the quarter, compared to analyst estimates of $452.24 million. Allegiant Travel had a net margin of 9.67% and a return on equity of 25.13%. Allegiant Travel’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $3.42 EPS. Sell-side analysts forecast that Allegiant Travel will post 13.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.80 annualized dividend and a dividend yield of 1.95%. Allegiant Travel’s payout ratio is 28.00%.

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $124.50, for a total value of $124,500.00. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $249,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $147.77, for a total transaction of $7,081,138.40. Following the completion of the transaction, the chief executive officer now owns 2,929,920 shares in the company, valued at approximately $432,954,278.40. The disclosure for this sale can be found here. Insiders have sold a total of 102,184 shares of company stock worth $15,063,600 in the last 90 days. Company insiders own 20.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Huntington National Bank lifted its holdings in Allegiant Travel by 19,900.0% in the 1st quarter. Huntington National Bank now owns 200 shares of the transportation company’s stock worth $26,000 after buying an additional 199 shares in the last quarter. IFP Advisors Inc increased its position in shares of Allegiant Travel by 100.0% in the 4th quarter. IFP Advisors Inc now owns 300 shares of the transportation company’s stock worth $30,000 after purchasing an additional 150 shares during the last quarter. Advisor Group Inc. increased its position in shares of Allegiant Travel by 75.0% in the 1st quarter. Advisor Group Inc. now owns 231 shares of the transportation company’s stock worth $30,000 after purchasing an additional 99 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Allegiant Travel by 45.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the transportation company’s stock worth $54,000 after purchasing an additional 168 shares during the last quarter. Finally, CSat Investment Advisory L.P. increased its position in shares of Allegiant Travel by 29.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 566 shares of the transportation company’s stock worth $57,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 79.78% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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