Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $150.00 at Morgan Stanley

Allegiant Travel (NASDAQ:ALGT) had its price target increased by Morgan Stanley from $132.00 to $150.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the transportation company’s stock.

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Allegiant Travel from a hold rating to a sell rating in a research note on Thursday, August 1st. Sidoti lifted their price target on shares of Allegiant Travel from $178.00 to $180.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Buckingham Research lifted their price objective on shares of Allegiant Travel from $186.00 to $191.00 and gave the company a buy rating in a report on Thursday, July 25th. Imperial Capital restated 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. Finally, Citigroup lifted their price objective on shares of Allegiant Travel from $180.00 to $182.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $164.00.

ALGT stock traded down $0.40 during mid-day trading on Wednesday, reaching $141.60. 4,681 shares of the company traded hands, compared to its average volume of 214,348. Allegiant Travel has a fifty-two week low of $98.18 and a fifty-two week high of $157.50. The company has a 50 day simple moving average of $146.37. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 1.66. The firm has a market cap of $2.30 billion, a PE ratio of 14.14 and a beta of 0.89.



Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $4.33 earnings per share for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.34). The business had revenue of $491.80 million during the quarter, compared to analysts’ expectations of $504.81 million. Allegiant Travel had a net margin of 10.54% and a return on equity of 26.59%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.10 earnings per share. On average, equities analysts predict that Allegiant Travel will post 13.68 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.80 annualized dividend and a dividend yield of 1.98%. Allegiant Travel’s payout ratio is 28.00%.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 10,778 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $148.17, for a total value of $1,596,976.26. Following the sale, the chief executive officer now owns 2,910,176 shares of the company’s stock, valued at approximately $431,200,777.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Paul Wilson III sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $144.83, for a total value of $144,830.00. Following the completion of the sale, the executive vice president now directly owns 16,477 shares in the company, valued at approximately $2,386,363.91. The disclosure for this sale can be found here. Insiders have sold 77,000 shares of company stock valued at $11,713,663 in the last ninety days. Company insiders own 20.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank bought a new position in shares of Allegiant Travel during the 4th quarter worth approximately $206,000. Norges Bank purchased a new stake in shares of Allegiant Travel in the 4th quarter valued at $6,493,000. Geode Capital Management LLC boosted its holdings in shares of Allegiant Travel by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 146,504 shares of the transportation company’s stock valued at $14,682,000 after acquiring an additional 9,932 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Allegiant Travel by 19,900.0% in the 1st quarter. Huntington National Bank now owns 200 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Allegiant Travel by 49.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,910 shares of the transportation company’s stock valued at $1,283,000 after acquiring an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 79.32% 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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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