Allegiant Travel (NASDAQ:ALGT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT) have received a consensus rating of “Buy” from the seventeen research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $149.23.

A number of brokerages recently commented on ALGT. BidaskClub upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Wolfe Research upgraded shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Allegiant Travel from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Morgan Stanley decreased their price target on shares of Allegiant Travel from $175.00 to $174.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th.

Shares of Allegiant Travel stock traded down $3.16 during trading on Monday, hitting $139.12. 4,466 shares of the stock were exchanged, compared to its average volume of 209,445. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 56.69 and a beta of 1.54. The company has a fifty day moving average price of $128.62 and a 200-day moving average price of $108.83. Allegiant Travel has a 1-year low of $60.06 and a 1-year high of $183.26. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported ($5.96) earnings per share for the quarter, missing the consensus estimate of ($4.53) by ($1.43). The firm had revenue of $133.30 million for the quarter, compared to analyst estimates of $118.13 million. Allegiant Travel had a positive return on equity of 5.22% and a negative net margin of 1.54%. The firm’s revenue for the quarter was down 72.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.33 earnings per share. Equities research analysts forecast that Allegiant Travel will post -11.38 EPS for the current fiscal year.

In other news, EVP Robert Paul Wilson III sold 1,076 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $114.42, for a total transaction of $123,115.92. Following the completion of the sale, the executive vice president now owns 7,331 shares of the company’s stock, valued at approximately $838,813.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 65,794 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $119.67, for a total transaction of $7,873,567.98. Following the sale, the chief executive officer now directly owns 2,572,375 shares of the company’s stock, valued at approximately $307,836,116.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,870 shares of company stock worth $24,208,483. Company insiders own 19.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Wasatch Advisors Inc. lifted its stake in Allegiant Travel by 9.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,515,570 shares of the transportation company’s stock valued at $165,515,000 after purchasing an additional 136,257 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Allegiant Travel by 4.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 658,183 shares of the transportation company’s stock valued at $71,715,000 after purchasing an additional 30,009 shares during the last quarter. U S Global Investors Inc. lifted its stake in Allegiant Travel by 211.6% in the 2nd quarter. U S Global Investors Inc. now owns 427,368 shares of the transportation company’s stock valued at $46,673,000 after purchasing an additional 290,210 shares during the last quarter. State Street Corp lifted its stake in Allegiant Travel by 6.5% in the 1st quarter. State Street Corp now owns 402,728 shares of the transportation company’s stock valued at $32,943,000 after purchasing an additional 24,484 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Allegiant Travel by 215.0% in the 1st quarter. Morgan Stanley now owns 288,287 shares of the transportation company’s stock valued at $23,583,000 after purchasing an additional 196,776 shares during the last quarter. 84.55% of the stock is 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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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