Allegiant Travel Company (NASDAQ:ALGT) Receives $161.27 Average PT from Analysts
Allegiant Travel Company (NASDAQ:ALGT) has been given an average recommendation of “Hold” by the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $158.55.
A number of research firms have recently issued reports on ALGT. BidaskClub lowered Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company restated a “market perform” rating and issued a $150.00 price target (down from $157.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Deutsche Bank AG restated a “hold” rating and issued a $130.00 price target (down from $153.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Imperial Capital restated an “in-line” rating and issued a $155.00 price target (down from $170.00) on shares of Allegiant Travel in a research note on Thursday, April 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $173.00 target price on shares of Allegiant Travel in a research report on Wednesday, April 19th.
In other news, SVP Gregory Clark Anderson sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the sale, the senior vice president now directly owns 15,054 shares in the company, valued at $2,138,872.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.00% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Allegiant Travel by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after buying an additional 1,545,387 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Allegiant Travel by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock valued at $96,377,000 after buying an additional 90,037 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Allegiant Travel by 36.3% in the first quarter. Schroder Investment Management Group now owns 274,416 shares of the transportation company’s stock valued at $44,277,000 after buying an additional 73,047 shares in the last quarter. Norges Bank bought a new stake in shares of Allegiant Travel during the fourth quarter valued at about $11,706,000. Finally, Investment Counselors of Maryland LLC increased its stake in shares of Allegiant Travel by 68.5% in the second quarter. Investment Counselors of Maryland LLC now owns 131,049 shares of the transportation company’s stock valued at $17,770,000 after buying an additional 53,255 shares in the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.
Allegiant Travel (NASDAQ:ALGT) opened at 130.05 on Friday. The company has a market capitalization of $2.11 billion, a P/E ratio of 12.20 and a beta of -0.05. The firm has a 50-day moving average of $139.00 and a 200-day moving average of $153.15. Allegiant Travel has a one year low of $123.74 and a one year high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the consensus estimate of $2.96 by $0.02. The business had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. Allegiant Travel’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.68 EPS. On average, analysts anticipate that Allegiant Travel will post $9.39 earnings per share for the current year.
Allegiant Travel announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. Allegiant Travel’s dividend payout ratio is currently 26.24%.
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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