Allegiant Travel Co. (ALGT) Price Target Increased to $196.00 by Analysts at Imperial Capital
Allegiant Travel Co. (NASDAQ:ALGT) had its price target increased by Imperial Capital from $160.00 to $196.00 in a research report report published on Tuesday. Imperial Capital currently has an outperform rating on the stock.
ALGT has been the topic of several other research reports. Wolfe Research downgraded Allegiant Travel from an outperform rating to a market perform rating in a research report on Monday. Citigroup Inc. started coverage on Allegiant Travel in a research report on Friday, November 18th. They set a buy rating and a $185.00 target price on the stock. Raymond James Financial Inc. downgraded Allegiant Travel from an outperform rating to a market perform rating in a research report on Thursday, October 27th. Credit Suisse Group AG set a $133.00 target price on Allegiant Travel and gave the stock a hold rating in a research report on Tuesday, September 13th. Finally, Zacks Investment Research downgraded Allegiant Travel from a hold rating to a strong sell rating in a research report on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Allegiant Travel currently has a consensus rating of Hold and an average target price of $176.83.
Shares of Allegiant Travel (NASDAQ:ALGT) traded up 1.6637% during trading on Tuesday, hitting $168.8125. The stock had a trading volume of 41,603 shares. Allegiant Travel has a 52 week low of $121.70 and a 52 week high of $196.11. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 11.9589 and a beta of -0.27. The company’s 50 day moving average price is $149.55 and its 200 day moving average price is $141.57.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Allegiant Travel had a return on equity of 60.20% and a net margin of 17.57%. The business had revenue of $33.50 million for the quarter, compared to the consensus estimate of $84.35 million. During the same quarter in the prior year, the business earned $2.62 earnings per share. Allegiant Travel’s revenue for the quarter was down 88.8% on a year-over-year basis. Analysts predict that Allegiant Travel will post $13.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Wednesday, November 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, November 21st. Allegiant Travel’s dividend payout ratio (DPR) is 19.86%.
In related news, CFO Scott Sheldon sold 2,596 shares of Allegiant Travel stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $153.70, for a total transaction of $399,005.20. Following the transaction, the chief financial officer now owns 20,964 shares in the company, valued at approximately $3,222,166.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 21.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of ALGT. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Allegiant Travel during the third quarter valued at approximately $120,000. Pacer Advisors Inc. purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $148,000. Bank of Montreal Can purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $151,000. Barclays PLC purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $155,000. Finally, BlackRock Inc. increased its position in shares of Allegiant Travel by 8.1% in the third quarter. BlackRock Inc. now owns 1,431 shares of the company’s stock valued at $189,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 80.38% of the company’s stock.
About Allegiant Travel
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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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