Allegiant Travel (NASDAQ:ALGT) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, ValuEngine reports.

Several other analysts also recently weighed in on the company. BidaskClub upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley increased their price objective on shares of Allegiant Travel from $132.00 to $150.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Buckingham Research lifted their price objective on shares of Allegiant Travel from $186.00 to $191.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Sidoti boosted their price objective on shares of Allegiant Travel from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Citigroup upped their target price on Allegiant Travel from $180.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $164.00.

ALGT traded down $1.75 during trading on Tuesday, hitting $147.20. 163,534 shares of the stock were exchanged, compared to its average volume of 173,959. The firm has a 50 day simple moving average of $145.48 and a 200 day simple moving average of $139.92. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.34 and a beta of 0.91. Allegiant Travel has a 1 year low of $98.18 and a 1 year high of $157.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.24 and a current ratio of 1.29.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 24th. The transportation company reported $4.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.67 by ($0.34). Allegiant Travel had a net margin of 10.54% and a return on equity of 26.59%. The firm had revenue of $491.80 million for the quarter, compared to the consensus estimate of $504.81 million. During the same period last year, the firm earned $3.10 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Allegiant Travel will post 14.08 earnings per share for the current fiscal year.

In other news, CEO Maurice J. Gallagher, Jr. sold 4,222 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $148.17, for a total transaction of $625,573.74. Following the transaction, the chief executive officer now owns 2,920,954 shares in the company, valued at $432,797,754.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 19,269 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $151.14, for a total transaction of $2,912,316.66. Following the transaction, the chief executive officer now owns 2,901,373 shares in the company, valued at approximately $438,513,515.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,000 shares of company stock valued at $11,713,663. 20.90% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Commerce Bank lifted its stake in shares of Allegiant Travel by 14.5% during the first quarter. Commerce Bank now owns 3,672 shares of the transportation company’s stock worth $475,000 after buying an additional 464 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Allegiant Travel by 5.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,051 shares of the transportation company’s stock valued at $395,000 after purchasing an additional 157 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Allegiant Travel during the 1st quarter valued at about $258,000. GW&K Investment Management LLC increased its holdings in shares of Allegiant Travel by 7.8% in the second quarter. GW&K Investment Management LLC now owns 183,507 shares of the transportation company’s stock valued at $26,333,000 after purchasing an additional 13,301 shares during the period. Finally, U S Global Investors Inc. increased its holdings in shares of Allegiant Travel by 78.4% in the first quarter. U S Global Investors Inc. now owns 51,020 shares of the transportation company’s stock valued at $5,769,000 after purchasing an additional 22,429 shares during the period. 80.71% of the stock is currently owned by institutional investors.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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