Allegiant Travel (NASDAQ:ALGT) was downgraded by analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Sunday, MarketBeat reports. They currently have a $142.00 price objective on the transportation company’s stock, up from their previous price objective of $133.00. Goldman Sachs Group’s price objective would indicate a potential upside of 27.21% from the company’s previous close.
A number of other brokerages have also issued reports on ALGT. Evercore ISI upgraded shares of Allegiant Travel from an “in-line” rating to an “outperform” rating and set a $160.00 price objective for the company in a report on Monday, March 2nd. Raymond James raised shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $115.00 to $135.00 in a research report on Monday, June 22nd. ValuEngine raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Zacks Investment Research downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating and set a $116.00 target price for the company. in a research report on Tuesday, June 23rd. Finally, Barclays downgraded shares of Allegiant Travel from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $97.00 to $73.00 in a research report on Monday, May 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Allegiant Travel currently has a consensus rating of “Hold” and a consensus target price of $144.23.
Shares of NASDAQ ALGT opened at $111.63 on Friday. The company has a 50 day simple moving average of $102.85 and a 200 day simple moving average of $124.78. The firm has a market cap of $1.73 billion, a PE ratio of 12.88 and a beta of 1.42. Allegiant Travel has a 1 year low of $60.06 and a 1 year high of $183.26. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.98 and a quick ratio of 0.94.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 12th. The transportation company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $1.52. The business had revenue of $409.20 million during the quarter, compared to analyst estimates of $409.47 million. Allegiant Travel had a net margin of 7.86% and a return on equity of 24.99%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the business earned $3.52 EPS. As a group, research analysts anticipate that Allegiant Travel will post -6.1 earnings per share for the current fiscal year.
In related news, CEO Maurice J. Gallagher, Jr. sold 95,000 shares of Allegiant Travel stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $122.00, for a total value of $11,590,000.00. Following the completion of the sale, the chief executive officer now owns 2,749,362 shares of the company’s stock, valued at approximately $335,422,164. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles W. Pollard purchased 1,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $97.61 per share, with a total value of $97,610.00. Following the transaction, the director now owns 9,000 shares in the company, valued at approximately $878,490. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,000 shares of company stock valued at $819,030. Insiders own 19.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its position 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 period. Public Employees Retirement Association of Colorado grew its position in Allegiant Travel by 152.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 573 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 346 shares during the period. Morgan Stanley grew its position 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 period. RBF Capital LLC grew its position in Allegiant Travel by 9.1% in the 1st quarter. RBF Capital LLC now owns 10,470 shares of the transportation company’s stock valued at $856,000 after purchasing an additional 870 shares during the period. Finally, Advisor Group Holdings Inc. bought a new position in Allegiant Travel during the 1st quarter valued at $214,000. 83.57% of the stock is owned by institutional investors and hedge funds.
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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