Bank of America Corporation restated their neutral rating on shares of Allegiant Travel Company (NASDAQ:ALGT) in a research note released on Tuesday. Bank of America Corporation currently has a $145.00 price target on the transportation company’s stock, down from their previous price target of $150.00.

Several other research firms have also recently issued reports on ALGT. ValuEngine raised Allegiant Travel from a hold rating to a buy rating in a report on Thursday, July 20th. Cowen and Company reaffirmed a market perform rating and issued a $150.00 price target (down previously from $157.00) on shares of Allegiant Travel in a report on Thursday, July 27th. Zacks Investment Research raised Allegiant Travel from a hold rating to a buy rating and set a $159.00 price target on the stock in a report on Monday, July 17th. Sidoti reaffirmed a buy rating and issued a $186.00 price target (up previously from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $143.42.

Allegiant Travel (ALGT) traded down 1.28% during trading on Tuesday, reaching $139.30. The company’s stock had a trading volume of 33,859 shares. Allegiant Travel has a 52 week low of $111.54 and a 52 week high of $182.25. The firm has a market capitalization of $2.26 billion, a P/E ratio of 13.07 and a beta of 0.03. The firm has a 50-day moving average price of $125.80 and a 200-day moving average price of $138.23.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by ($0.02). The company had revenue of $400.60 million during the quarter, compared to the consensus estimate of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. Allegiant Travel’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.68 EPS. On average, equities analysts anticipate that Allegiant Travel will post $8.96 EPS for the current fiscal year.

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Allegiant Travel announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new stake in Allegiant Travel during the 2nd quarter valued at $919,000. BNP Paribas Arbitrage SA raised its stake in Allegiant Travel by 45.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,054 shares of the transportation company’s stock valued at $685,000 after purchasing an additional 1,591 shares during the period. Vanguard Group Inc. raised its stake in Allegiant Travel by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock valued at $185,482,000 after purchasing an additional 51,487 shares during the period. BlackRock Inc. raised its stake in Allegiant Travel by 141,260.2% during the 1st quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after purchasing an additional 1,545,387 shares during the period. Finally, GHP Investment Advisors Inc. raised its stake in Allegiant Travel by 14.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,901 shares of the transportation company’s stock valued at $1,071,000 after purchasing an additional 992 shares during the period. 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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