Allegiant Travel (NASDAQ:ALGT) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $145.00 price objective on the transportation company’s stock. Bank of America’s target price would indicate a potential downside of 2.03% from the stock’s previous close.

Other analysts have also issued research reports about the company. Deutsche Bank raised Allegiant Travel from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $180.00 in a report on Thursday, December 21st. Citigroup decreased their price objective on Allegiant Travel from $175.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, September 26th. ValuEngine raised Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 price objective (down previously from $150.00) on shares of Allegiant Travel in a research note on Friday, September 22nd. Finally, Cowen reaffirmed a “hold” rating and set a $145.00 price objective on shares of Allegiant Travel in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $151.18.

Allegiant Travel (NASDAQ ALGT) opened at $148.00 on Tuesday. The stock has a market capitalization of $2,390.00, a price-to-earnings ratio of 15.74 and a beta of 0.16. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.05 and a quick ratio of 1.01. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. The firm had revenue of $348.80 million during the quarter, compared to analysts’ expectations of $349.79 million. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. Allegiant Travel’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 earnings per share. equities analysts expect that Allegiant Travel will post 8.59 EPS for the current fiscal year.

In other Allegiant Travel news, President John Redmond acquired 11,000 shares of the stock in a transaction on Friday, October 27th. The stock was purchased at an average price of $138.28 per share, for a total transaction of $1,521,080.00. Following the purchase, the president now directly owns 92,574 shares in the company, valued at $12,801,132.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $155.74, for a total value of $2,774,975.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,708 shares of company stock worth $6,227,913. Company insiders own 22.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its position in shares of Allegiant Travel by 8.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,170 shares of the transportation company’s stock worth $10,736,000 after acquiring an additional 5,991 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel in the 2nd quarter worth approximately $339,000. Legal & General Group Plc grew its position in shares of Allegiant Travel by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 24,431 shares of the transportation company’s stock worth $3,315,000 after acquiring an additional 2,363 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Allegiant Travel by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after acquiring an additional 127 shares in the last quarter. Finally, Capital Fund Management S.A. grew its position in shares of Allegiant Travel by 23.7% in the 2nd quarter. Capital Fund Management S.A. now owns 36,344 shares of the transportation company’s stock worth $4,928,000 after acquiring an additional 6,952 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Allegiant Travel (ALGT) Upgraded to “Buy” at Bank of America” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://www.thecerbatgem.com/2018/01/09/allegiant-travel-algt-upgraded-to-buy-at-bank-of-america.html.

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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

Receive News & Ratings for Allegiant Travel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel and related companies with MarketBeat.com's FREE daily email newsletter.