Investment analysts at Vertical Research initiated coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a note issued to investors on Monday, February 4th, The Fly reports. The firm set a “buy” rating and a $165.00 price target on the transportation company’s stock. Vertical Research’s price objective would suggest a potential upside of 25.70% from the company’s current price.
Several other equities analysts also recently issued reports on the company. Citigroup lifted their price objective on Allegiant Travel from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Thursday, November 29th. Goldman Sachs Group initiated coverage on Allegiant Travel in a research report on Monday, November 12th. They issued a “buy” rating and a $167.00 price objective for the company. Buckingham Research cut their price objective on Allegiant Travel from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Zacks Investment Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Monday, December 31st. Finally, TheStreet downgraded Allegiant Travel from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Allegiant Travel currently has an average rating of “Buy” and an average price target of $149.83.
ALGT stock traded down $0.83 during trading on Monday, hitting $131.27. The company had a trading volume of 191,773 shares, compared to its average volume of 201,547. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.50. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.45 and a beta of 0.91. Allegiant Travel has a fifty-two week low of $98.18 and a fifty-two week high of $181.45.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, January 30th. The transportation company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.09. The business had revenue of $412.11 million for the quarter, compared to analyst estimates of $410.69 million. Allegiant Travel had a return on equity of 25.58% and a net margin of 9.70%. Allegiant Travel’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.18 EPS. On average, research analysts anticipate that Allegiant Travel will post 13.79 earnings per share for the current year.
In other Allegiant Travel news, EVP Robert Paul Wilson III sold 486 shares of the business’s stock in a transaction dated Thursday, December 20th. The stock was sold at an average price of $111.98, for a total value of $54,422.28. Following the completion of the transaction, the executive vice president now directly owns 17,330 shares of the company’s stock, valued at $1,940,613.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.80% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in Allegiant Travel during the third quarter valued at approximately $962,000. State of Alaska Department of Revenue boosted its position in Allegiant Travel by 3.1% during the fourth quarter. State of Alaska Department of Revenue now owns 4,275 shares of the transportation company’s stock valued at $428,000 after purchasing an additional 129 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in Allegiant Travel by 314.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 44,965 shares of the transportation company’s stock valued at $4,506,000 after purchasing an additional 34,122 shares during the last quarter. Wells Fargo & Company MN boosted its position in Allegiant Travel by 13.5% during the third quarter. Wells Fargo & Company MN now owns 21,495 shares of the transportation company’s stock valued at $2,726,000 after purchasing an additional 2,565 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Allegiant Travel by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 225,063 shares of the transportation company’s stock valued at $28,539,000 after purchasing an additional 7,954 shares during the last quarter. 82.91% of the stock is owned by institutional investors.
About Allegiant Travel
Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.
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