Allegiant Travel Company (NASDAQ:ALGT) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Monday, July 17th. Sidoti reiterated a “buy” rating and issued a $186.00 price objective (up from $183.00) on shares of Allegiant Travel in a research note on Wednesday, July 12th. Morgan Stanley reduced their price objective on Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 17th. Deutsche Bank AG reiterated a “hold” rating and issued a $130.00 price objective (down from $153.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Finally, Imperial Capital reduced their price objective on Allegiant Travel from $155.00 to $148.00 and set an “in-line” rating on the stock in a research note on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $156.75.

Shares of Allegiant Travel (NASDAQ ALGT) traded down 0.04% during midday trading on Friday, reaching $117.95. The company’s stock had a trading volume of 144,807 shares. The stock’s 50-day moving average is $128.45 and its 200-day moving average is $145.92. Allegiant Travel has a one year low of $114.35 and a one year high of $182.25. The company has a market capitalization of $1.91 billion, a P/E ratio of 11.06 and a beta of -0.05.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the consensus estimate of $2.96 by $0.02. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $399.58 million. During the same quarter in the prior year, the business earned $3.68 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that Allegiant Travel will post $9.33 earnings per share for the current fiscal year.

Allegiant Travel announced that its board has authorized a share buyback plan on Wednesday, July 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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Several institutional investors have recently modified their holdings of ALGT. Neuburgh Advisers LLC raised its position 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 valued at $120,000 after buying an additional 68 shares during the last quarter. Bank of Montreal Can raised its position 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 valued at $112,000 after buying an additional 186 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Allegiant Travel during the first quarter valued at about $146,000. Finally, Riverhead Capital Management LLC raised its position in shares of Allegiant Travel by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after buying an additional 599 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.

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. 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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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