Allegiant Travel Co. (ALGT) Receives Consensus Rating of “Hold” from Analysts
Shares of Allegiant Travel Co. (NASDAQ:ALGT) have earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $167.43.
Several research firms have issued reports on ALGT. Wolfe Research lowered shares of Allegiant Travel from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. Imperial Capital raised their price target on shares of Allegiant Travel from $160.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, November 22nd. Citigroup Inc. began coverage on shares of Allegiant Travel in a report on Friday, November 18th. They set a “buy” rating and a $185.00 price target for the company. Raymond James Financial Inc. lowered shares of Allegiant Travel from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. Finally, Credit Suisse Group AG set a $133.00 price target on shares of Allegiant Travel and gave the stock a “hold” rating in a report on Tuesday, September 13th.
In other Allegiant Travel 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 directly owns 20,964 shares of the company’s stock, valued at approximately $3,222,166.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in Allegiant Travel during the third quarter worth about $120,000. Pacer Advisors Inc. purchased a new position in Allegiant Travel during the second quarter worth about $148,000. Bank of Montreal Can purchased a new position in Allegiant Travel during the second quarter worth about $151,000. Barclays PLC purchased a new position in Allegiant Travel during the second quarter worth about $155,000. Finally, BlackRock Inc. increased its position in Allegiant Travel by 8.1% in the third quarter. BlackRock Inc. now owns 1,431 shares of the company’s stock worth $189,000 after buying an additional 107 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
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Allegiant Travel (NASDAQ:ALGT) traded down 0.51% on Tuesday, hitting $166.15. 60,473 shares of the stock traded hands. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 11.77 and a beta of -0.27. Allegiant Travel has a 1-year low of $121.70 and a 1-year high of $189.50. The stock has a 50-day moving average price of $152.05 and a 200 day moving average price of $141.97.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, October 26th. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Allegiant Travel had a net margin of 17.57% and a return on equity of 60.20%. The firm earned $33.50 million during the quarter, compared to analyst estimates of $84.35 million. During the same quarter last year, the business earned $2.62 EPS. The company’s revenue was down 88.8% compared to the same quarter last year. On average, analysts anticipate that Allegiant Travel will post $13.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Wednesday, November 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, November 21st. Allegiant Travel’s dividend payout ratio is 19.86%.
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. 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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