Allegiant Travel’s (ALGT) “Market Perform” Rating Reiterated at Cowen
Cowen reiterated their market perform rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research report released on Friday, Marketbeat.com reports. The brokerage currently has a $158.00 price objective on the transportation company’s stock, up from their previous price objective of $145.00.
Several other research analysts have also issued reports on the stock. Stifel Nicolaus reissued a hold rating and issued a $135.00 price target on shares of Allegiant Travel in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of Allegiant Travel from a hold rating to a sell rating in a research report on Tuesday, October 10th. Bank of America reissued a neutral rating and issued a $145.00 price target (down previously from $150.00) on shares of Allegiant Travel in a research report on Tuesday, October 10th. Citigroup dropped their price target on shares of Allegiant Travel from $175.00 to $168.00 and set a buy rating for the company in a research report on Tuesday, September 26th. Finally, Macquarie began coverage on shares of Allegiant Travel in a research report on Monday, September 25th. They issued a neutral rating and a $119.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $146.45.
Allegiant Travel (NASDAQ ALGT) opened at $151.80 on Friday. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78. The company has a market cap of $2,440.00, a PE ratio of 15.84, a PEG ratio of 6.10 and a beta of 0.16.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The firm had revenue of $348.80 million during the quarter, compared to analyst estimates of $349.79 million. During the same quarter in the prior year, the business posted $2.75 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. sell-side analysts forecast that Allegiant Travel will post 8.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, November 21st. Allegiant Travel’s payout ratio is 29.79%.
In other news, CFO Scott Sheldon sold 5,872 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $137.63, for a total transaction of $808,163.36. Following the completion of the sale, the chief financial officer now owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President John Redmond acquired 11,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were purchased at an average cost of $138.28 per share, with a total value of $1,521,080.00. Following the acquisition, the president now owns 92,574 shares of the company’s stock, valued at approximately $12,801,132.72. The disclosure for this purchase can be found here. Company insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Bank of Montreal Can grew its stake in shares of Allegiant Travel by 28.9% during the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 186 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 127 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Allegiant Travel by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after purchasing an additional 599 shares during the last quarter. Flinton Capital Management LLC grew its stake in shares of Allegiant Travel by 81.8% during the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 504 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Allegiant Travel by 2.0% during the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 23 shares during the last quarter. 86.22% of the stock is owned by institutional investors.
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Allegiant Travel Company Profile
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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