BidaskClub upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

ALGT has been the topic of a number of other reports. Citigroup raised their price target on Allegiant Travel from $180.00 to $182.00 and gave the company a buy rating in a report on Tuesday, July 9th. Morgan Stanley upped their price objective on shares of Allegiant Travel from $132.00 to $150.00 and gave the stock an equal weight rating in a report on Wednesday, August 14th. Buckingham Research upped their price objective on shares of Allegiant Travel from $186.00 to $191.00 and gave the stock a buy rating in a report on Thursday, July 25th. ValuEngine lowered shares of Allegiant Travel from a hold rating to a sell rating in a research report on Thursday, August 1st. Finally, Sidoti raised their target price on shares of Allegiant Travel from $178.00 to $180.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $164.00.

Shares of NASDAQ ALGT opened at $147.20 on Friday. Allegiant Travel has a 12-month low of $98.18 and a 12-month high of $157.50. The company has a market cap of $2.43 billion, a PE ratio of 14.72, a P/E/G ratio of 0.34 and a beta of 0.91. The stock has a 50 day simple moving average of $145.48 and a 200-day simple moving average of $139.92. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 1.66.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 24th. The transportation company reported $4.33 EPS for the quarter, missing the 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 business had revenue of $491.80 million during the quarter, compared to analyst estimates of $504.81 million. During the same quarter in the prior year, the business earned $3.10 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Allegiant Travel will post 14.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.80 annualized dividend and a yield of 1.90%. Allegiant Travel’s dividend payout ratio is currently 28.00%.

In related news, EVP Robert Paul Wilson III sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $144.83, for a total transaction of $144,830.00. Following the completion of the sale, the executive vice president now directly owns 16,477 shares of the company’s stock, valued at $2,386,363.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 10,778 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $148.17, for a total transaction of $1,596,976.26. Following the sale, the chief executive officer now directly owns 2,910,176 shares of the company’s stock, valued at $431,200,777.92. The disclosure for this sale can be found here. Insiders have sold 77,000 shares of company stock valued at $11,713,663 in the last ninety days. Company insiders own 20.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan raised its position in shares of Allegiant Travel by 1.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,850 shares of the transportation company’s stock worth $552,000 after purchasing an additional 70 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Allegiant Travel by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,943 shares of the transportation company’s stock worth $640,000 after buying an additional 89 shares during the period. OppenheimerFunds Inc. raised its holdings in Allegiant Travel by 1.3% during the 1st quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock worth $908,000 after buying an additional 89 shares during the period. Bank of Montreal Can raised its holdings in Allegiant Travel by 2.5% during the 1st quarter. Bank of Montreal Can now owns 3,990 shares of the transportation company’s stock worth $516,000 after buying an additional 98 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in Allegiant Travel by 2.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 5,031 shares of the transportation company’s stock valued at $651,000 after buying an additional 110 shares in the last quarter. 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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