Allegiant Travel (NASDAQ:ALGT) Given New $169.00 Price Target at Cowen

Posted by on Oct 25th, 2019 // Comments off

Allegiant Travel (NASDAQ:ALGT) had its price target hoisted by investment analysts at Cowen from $152.00 to $169.00 in a research report issued on Friday, Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Cowen’s price target points to a potential upside of 9.47% from the company’s previous close.

A number of other brokerages have also recently weighed in on ALGT. Morgan Stanley lifted their price target on shares of Allegiant Travel from $152.00 to $164.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on shares of Allegiant Travel from $180.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Buckingham Research lifted their price target on shares of Allegiant Travel from $186.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. ValuEngine cut shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. Finally, Sidoti lifted their price objective on shares of Allegiant Travel from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $167.00.

Shares of ALGT opened at $154.38 on Friday. Allegiant Travel has a 1-year low of $98.18 and a 1-year high of $157.50. The stock has a market cap of $2.49 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.92. The firm has a 50-day simple moving average of $149.99 and a two-hundred day simple moving average of $144.37. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.29 and a quick ratio of 1.24.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.49. Allegiant Travel had a net margin of 10.54% and a return on equity of 26.59%. The business had revenue of $436.51 million during the quarter, compared to analysts’ expectations of $429.44 million. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Allegiant Travel will post 14.09 earnings per share for the current fiscal year.

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $145.10, for a total value of $145,100.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $290,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new position in shares of Allegiant Travel in the second quarter valued at approximately $26,000. MUFG Americas Holdings Corp purchased a new position in Allegiant Travel in the second quarter worth approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Allegiant Travel by 68.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331 shares of the transportation company’s stock worth $50,000 after acquiring an additional 135 shares during the last quarter. Advisor Group Inc. lifted its stake in Allegiant Travel by 55.8% in the second quarter. Advisor Group Inc. now owns 360 shares of the transportation company’s stock worth $51,000 after acquiring an additional 129 shares during the last quarter. Finally, Clear Perspective Advisors LLC purchased a new position in Allegiant Travel in the second quarter worth approximately $57,000. Hedge funds and other institutional investors own 80.75% of the company’s stock.

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.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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