Allegiant Travel (NASDAQ:ALGT) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a research note released on Wednesday, ValuEngine reports.

ALGT has been the topic of several other reports. Citigroup lowered Apergy from a buy rating to a neutral rating and cut their target price for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. Morgan Stanley raised their target price on shares of United Technologies from $155.00 to $164.00 and gave the stock an overweight rating in a report on Monday, May 20th. Zacks Investment Research cut GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. Finally, Imperial Capital reiterated an outperform rating and set a $78.00 price objective (down from $83.00) on shares of Spirit Airlines in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Allegiant Travel has an average rating of Buy and a consensus price target of $160.42.

Shares of ALGT opened at $143.89 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.07. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $152.00. The firm has a 50 day simple moving average of $142.73. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.39 and a beta of 0.89.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, April 24th. The transportation company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.10. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. The company had revenue of $451.60 million during the quarter, compared to analysts’ expectations of $452.24 million. During the same quarter last year, the firm earned $3.42 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Allegiant Travel will post 13.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, June 13th. Allegiant Travel’s payout ratio is 28.00%.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.77, for a total transaction of $7,081,138.40. Following the completion of the sale, the chief executive officer now directly owns 2,929,920 shares in the company, valued at approximately $432,954,278.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Paul Wilson III sold 1,823 shares of Allegiant Travel stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $141.28, for a total value of $257,553.44. Following the transaction, the executive vice president now directly owns 19,300 shares in the company, valued at $2,726,704. The disclosure for this sale can be found here. Insiders have sold 135,453 shares of company stock valued at $20,073,966 in the last three months. Insiders own 20.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of 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 purchasing an additional 89 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Allegiant Travel by 1.3% in the first quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock valued at $908,000 after acquiring an additional 89 shares in the last quarter. Bank of Montreal Can lifted its position in Allegiant Travel by 2.5% during the first 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 in the last quarter. State Board of Administration of Florida Retirement System lifted its position 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 worth $651,000 after buying an additional 110 shares in the last quarter. Finally, CSat Investment Advisory L.P. increased its stake in Allegiant Travel by 29.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 566 shares of the transportation company’s stock worth $57,000 after acquiring an additional 130 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other 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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