Allegiant Travel (ALGT) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Imperial Capital reissued an outperform rating and issued a $168.00 price target on shares of Allegiant Travel in a report on Wednesday, March 20th. ValuEngine raised shares of Allegiant Travel from a strong sell rating to a sell rating in a report on Tuesday, April 9th. Macquarie raised shares of Allegiant Travel from a neutral rating to an outperform rating and set a $149.00 price target for the company in a report on Tuesday, March 26th. Zacks Investment Research downgraded shares of Allegiant Travel from a buy rating to a hold rating in a report on Tuesday, April 2nd. Finally, TheStreet raised shares of Allegiant Travel from a c+ rating to a b- rating in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $152.15.

ALGT opened at $134.51 on Tuesday. The company has a market capitalization of $2.16 billion, a P/E ratio of 13.27 and a beta of 0.87. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $165.00. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.62.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, January 30th. The transportation company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.09. Allegiant Travel had a net margin of 9.70% and a return on equity of 25.01%. The firm had revenue of $412.11 million during the quarter, compared to the consensus estimate of $410.69 million. During the same period last year, the firm earned $5.18 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Allegiant Travel will post 13.3 earnings per share for the current year.

In other news, CEO Maurice J. Gallagher, Jr. sold 9,737 shares of Allegiant Travel stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $128.05, for a total transaction of $1,246,822.85. Following the completion of the sale, the chief executive officer now directly owns 2,987,079 shares of the company’s stock, valued at approximately $382,495,465.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $249,000. The disclosure for this sale can be found here. Insiders own 20.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Huntington National Bank lifted its holdings in shares of Allegiant Travel by 19,900.0% during the 1st quarter. Huntington National Bank now owns 200 shares of the transportation company’s stock worth $26,000 after acquiring an additional 199 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Allegiant Travel by 100.0% during the 4th quarter. IFP Advisors Inc now owns 300 shares of the transportation company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Allegiant Travel by 45.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the transportation company’s stock worth $54,000 after acquiring an additional 168 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of Allegiant Travel by 29.8% during the 4th 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. Finally, LS Investment Advisors LLC lifted its holdings in shares of Allegiant Travel by 161.7% during the 4th quarter. LS Investment Advisors LLC now owns 1,010 shares of the transportation company’s stock worth $101,000 after acquiring an additional 624 shares during the last quarter. 80.47% of the stock is owned by institutional investors.

About Allegiant Travel

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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