Allegiant Travel (NASDAQ:ALGT) had its price target raised by Citigroup to $167.00 in a research note released on Thursday, The Fly reports. They currently have a buy rating on the transportation company’s stock.

ALGT has been the subject of several other reports. BidaskClub upgraded Allegiant Travel from a strong sell rating to a sell rating in a report on Tuesday, October 16th. Imperial Capital reiterated an in-line rating and issued a $152.00 price target (up from $124.00) on shares of Allegiant Travel in a report on Tuesday, December 4th. ValuEngine downgraded Allegiant Travel from a hold rating to a sell rating in a report on Wednesday, September 12th. Wolfe Research downgraded Allegiant Travel from an outperform rating to a peer perform rating in a report on Friday, September 14th. Finally, Goldman Sachs Group assumed coverage on shares of Allegiant Travel in a research note on Monday, November 12th. They set a buy rating and a $167.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $144.60.

ALGT traded up $1.07 during trading on Thursday, hitting $121.33. The company’s stock had a trading volume of 131,300 shares, compared to its average volume of 198,500. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.50 and a current ratio of 0.53. The company has a market capitalization of $1.89 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.43 and a beta of 0.71. Allegiant Travel has a twelve month low of $98.18 and a twelve month high of $181.45.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). The business had revenue of $393.11 million during the quarter, compared to analyst estimates of $390.30 million. Allegiant Travel had a net margin of 12.42% and a return on equity of 26.83%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. As a group, equities research analysts forecast that Allegiant Travel will post 9.51 earnings per share for the current fiscal year.

In related news, EVP Robert Paul Wilson III sold 486 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $111.98, for a total transaction of $54,422.28. Following the completion of the sale, the executive vice president now directly owns 17,330 shares of the company’s stock, valued at approximately $1,940,613.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President John Redmond purchased 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $115.42 per share, with a total value of $1,385,040.00. Following the completion of the transaction, the president now owns 102,125 shares in the company, valued at approximately $11,787,267.50. The disclosure for this purchase can be found here. 20.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in ALGT. Schroder Investment Management Group boosted its position in Allegiant Travel by 206.3% during the 2nd quarter. Schroder Investment Management Group now owns 323,012 shares of the transportation company’s stock worth $4,970,000 after purchasing an additional 217,539 shares during the period. BlackRock Inc. boosted its position in Allegiant Travel by 8.9% during the 2nd quarter. BlackRock Inc. now owns 1,737,630 shares of the transportation company’s stock worth $241,443,000 after purchasing an additional 142,477 shares during the period. Clearbridge Investments LLC boosted its position in Allegiant Travel by 967,154.5% during the 3rd quarter. Clearbridge Investments LLC now owns 106,398 shares of the transportation company’s stock worth $13,491,000 after purchasing an additional 106,387 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Allegiant Travel by 24.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 520,505 shares of the transportation company’s stock worth $66,000,000 after purchasing an additional 101,366 shares during the period. Finally, Matarin Capital Management LLC purchased a new stake in Allegiant Travel during the 3rd quarter worth $11,143,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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