Buckingham Research upgraded shares of Allegiant Travel Co. (NASDAQ:ALGT) from a neutral rating to a buy rating in a report issued on Friday morning. They currently have $168.00 price objective on the stock.
Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price target on Allegiant Travel from $200.00 to $155.00 and set a buy rating for the company in a research note on Wednesday, August 3rd. Raymond James Financial Inc. upgraded Allegiant Travel from a market perform rating to an outperform rating and set a $190.00 price objective for the company in a research report on Tuesday, June 14th. Zacks Investment Research upgraded Allegiant Travel from a strong sell rating to a hold rating in a research report on Tuesday, August 2nd. Cowen and Company cut their price objective on Allegiant Travel from $165.00 to $147.00 and set a market perform rating for the company in a research report on Monday, August 1st. Finally, Credit Suisse Group AG set a $133.00 price objective on Allegiant Travel and gave the stock a hold rating in a research report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $179.18.
Allegiant Travel (NASDAQ:ALGT) traded down 1.88% on Friday, hitting $131.18. The stock had a trading volume of 38,511 shares. The stock’s 50 day moving average is $133.44 and its 200 day moving average is $148.95. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 9.34 and a beta of -0.07. Allegiant Travel has a one year low of $121.70 and a one year high of $228.79.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Friday, July 29th. The company reported $3.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.55 by $0.13. Allegiant Travel had a return on equity of 64.40% and a net margin of 17.94%. The business earned $344.90 million during the quarter, compared to analysts’ expectations of $343.11 million. During the same quarter in the prior year, the business earned $3.18 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Allegiant Travel will post $13.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 17th. Allegiant Travel’s payout ratio is currently 20.04%.
Several hedge funds have recently bought and sold shares of ALGT. Ladenburg Thalmann Financial Services Inc. raised its stake in Allegiant Travel by 996.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 636 shares of the company’s stock worth $113,000 after buying an additional 578 shares during the last quarter. BlackRock Inc. raised its stake in Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock worth $146,000 after buying an additional 502 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Allegiant Travel during the second quarter worth approximately $148,000. Bank of Montreal Can bought a new stake in Allegiant Travel during the second quarter worth approximately $151,000. Finally, Barclays PLC bought a new stake in Allegiant Travel during the second quarter worth approximately $155,000. 79.35% of the stock is currently owned by institutional investors and hedge funds.
Allegiant Travel Company Profile
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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