Allegiant Travel Company (NASDAQ:ALGT) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other research analysts also recently weighed in on ALGT. Imperial Capital lowered their price target on Allegiant Travel from $182.00 to $170.00 and set an “in-line” rating on the stock in a report on Wednesday, April 12th. Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Stifel Nicolaus reiterated a “hold” rating and set a $173.00 price target on shares of Allegiant Travel in a report on Wednesday, April 19th. Cowen and Company lowered their price target on Allegiant Travel from $162.00 to $157.00 and set a “market perform” rating on the stock in a report on Wednesday, April 26th. Finally, Deutsche Bank AG downgraded Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $153.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $161.08.

Allegiant Travel (NASDAQ ALGT) traded up 0.21% during trading on Thursday, reaching $144.30. The company had a trading volume of 105,502 shares. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.65 and a beta of -0.04. Allegiant Travel has a 12 month low of $121.70 and a 12 month high of $182.25. The stock has a 50 day moving average price of $140.66 and a 200 day moving average price of $155.85.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by $0.08. Allegiant Travel had a net margin of 13.61% and a return on equity of 41.46%. The business had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $374.99 million. During the same quarter in the prior year, the firm posted $4.29 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Allegiant Travel will post $9.84 earnings per share for the current year.

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In related news, SVP Gregory Clark Anderson sold 1,500 shares of Allegiant Travel stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total transaction of $213,120.00. Following the completion of the sale, the senior vice president now owns 15,054 shares of the company’s stock, valued at $2,138,872.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.00% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after buying an additional 186 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Allegiant Travel 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 in the last quarter. James Investment Research Inc. bought a new stake in shares of Allegiant Travel during the first quarter worth $140,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Allegiant Travel during the first quarter worth $146,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of Allegiant Travel during the first quarter worth $180,000. 83.60% of the stock is owned by institutional investors.

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. 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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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