Allegiant Travel Company (ALGT) Price Target Cut to $148.00
Allegiant Travel Company (NASDAQ:ALGT) had its price target reduced by analysts at Imperial Capital from $155.00 to $148.00 in a research report issued to clients and investors on Tuesday, May 9th. The brokerage currently has an “in-line” rating on the transportation company’s stock. Imperial Capital’s price objective indicates a potential upside of 5.30% from the company’s current price.
A number of other equities research analysts also recently issued reports on ALGT. Cowen and Company reduced their price objective on shares of Allegiant Travel Company from $162.00 to $157.00 and set a “market perform” rating for the company in a research report on Wednesday, April 26th. Bank of America Corp downgraded shares of Allegiant Travel Company from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $205.00 to $175.00 in a research report on Wednesday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $173.00 price objective on shares of Allegiant Travel Company in a research report on Wednesday, April 19th. Deutsche Bank AG downgraded shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $153.00 in a research report on Wednesday, April 26th. Finally, Zacks Investment Research downgraded shares of Allegiant Travel Company from a “hold” rating to a “sell” rating in a research report on Friday, April 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $164.70.
Shares of Allegiant Travel Company (NASDAQ:ALGT) opened at 140.45 on Tuesday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 12.31 and a beta of -0.20. The company has a 50-day moving average of $152.16 and a 200 day moving average of $161.81. Allegiant Travel Company has a 52 week low of $121.70 and a 52 week high of $182.25.
Allegiant Travel Company (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, April 25th. The transportation company reported $2.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.58 by $0.08. Allegiant Travel Company had a return on equity of 54.38% and a net margin of 16.11%. The firm had revenue of $375.80 million during the quarter, compared to the consensus estimate of $374.99 million. During the same period in the previous year, the company posted $4.29 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Allegiant Travel Company will post $9.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, May 17th. Allegiant Travel Company’s payout ratio is 21.21%.
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In related news, Director Gary Ellmer sold 580 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $162.00, for a total transaction of $93,960.00. Following the sale, the director now directly owns 2,255 shares in the company, valued at approximately $365,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jude Bricker sold 4,421 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $158.67, for a total transaction of $701,480.07. Following the sale, the executive vice president now owns 21,569 shares in the company, valued at $3,422,353.23. The disclosure for this sale can be found here. 21.00% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Allegiant Travel Company during the third quarter worth approximately $120,000. Neuburgh Advisers LLC raised its stake in Allegiant Travel Company by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock worth $120,000 after buying an additional 68 shares during the period. James Investment Research Inc. purchased a new stake in Allegiant Travel Company during the first quarter worth $140,000. Oppenheimer Asset Management Inc. purchased a new stake in Allegiant Travel Company during the first quarter worth $146,000. Finally, Americafirst Capital Management LLC purchased a new stake in Allegiant Travel Company during the first quarter worth $180,000. Institutional investors own 79.27% of the company’s stock.
Allegiant Travel Company 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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