Allegiant Travel (NASDAQ:ALGT) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report released on Wednesday, ValuEngine reports.

A number of other analysts have also issued reports on ALGT. Macquarie set a $6.00 target price on Cheetah Mobile and gave the company a sell rating in a research report on Tuesday, March 26th. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. Zacks Investment Research lowered GasLog Partners LP Unit from a hold rating to a strong sell rating in a research report on Tuesday, April 2nd. Buckingham Research boosted their target price on United Continental from $111.00 to $120.00 and gave the company a buy rating in a research report on Tuesday. Finally, Morgan Stanley boosted their target price on United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a research report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $160.42.

ALGT opened at $143.89 on Wednesday. Allegiant Travel has a one year low of $98.18 and a one year high of $152.00. The firm has a market capitalization of $2.40 billion, a PE ratio of 13.93 and a beta of 0.89. The firm has a 50 day simple moving average of $142.73. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.63.



Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.10. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. The firm had revenue of $451.60 million for the quarter, compared to analysts’ expectations of $452.24 million. During the same period in the prior year, the firm posted $3.42 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Allegiant Travel will post 13.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Thursday, June 13th. Allegiant Travel’s payout ratio is 28.00%.

In other news, CEO Maurice J. Gallagher, Jr. sold 19,269 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $151.14, for a total transaction of $2,912,316.66. Following the sale, the chief executive officer now owns 2,901,373 shares of the company’s stock, valued at $438,513,515.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $147.75, for a total value of $7,600,407.75. Following the sale, the chief executive officer now directly owns 2,929,920 shares in the company, valued at approximately $432,895,680. The disclosure for this sale can be found here. In the last three months, insiders sold 135,453 shares of company stock worth $20,073,966. 20.90% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of ALGT. PNC Financial Services Group Inc. raised its position in Allegiant Travel by 45.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the transportation company’s stock valued at $54,000 after buying an additional 168 shares during the last quarter. California Public Employees Retirement System raised its position in Allegiant Travel by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 32,911 shares of the transportation company’s stock valued at $3,298,000 after buying an additional 4,644 shares during the last quarter. BlackRock Inc. raised its position in Allegiant Travel by 0.5% in the 4th quarter. BlackRock Inc. now owns 1,827,451 shares of the transportation company’s stock valued at $183,146,000 after buying an additional 9,863 shares during the last quarter. Citigroup Inc. raised its position in Allegiant Travel by 780.6% in the 4th quarter. Citigroup Inc. now owns 1,638 shares of the transportation company’s stock valued at $164,000 after buying an additional 1,452 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Allegiant Travel by 7.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 15,898 shares of the transportation company’s stock valued at $1,467,000 after buying an additional 1,137 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

About Allegiant Travel

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.

See Also: Gross Domestic Product (GDP)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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