Allegiant Travel (NASDAQ:ALGT) had its price objective raised by Citigroup from $180.00 to $182.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the transportation company’s stock.
Several other brokerages also recently weighed in on ALGT. ValuEngine downgraded shares of WideOpenWest from a hold rating to a sell rating in a report on Friday, June 28th. Imperial Capital reaffirmed an outperform rating and issued a $78.00 target price (down previously from $83.00) on shares of Spirit Airlines in a report on Friday, April 26th. BidaskClub raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, July 4th. Morgan Stanley lifted their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a report on Monday, May 20th. Finally, Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $154.69.
Shares of NASDAQ:ALGT opened at $148.67 on Tuesday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 14.87 and a beta of 0.89. The company has a 50-day moving average price of $141.97. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. Allegiant Travel has a fifty-two week low of $98.18 and a fifty-two week high of $149.64.
Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, April 24th. The transportation company reported $3.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.10. The business had revenue of $451.60 million for the quarter, compared to the consensus estimate of $452.24 million. Allegiant Travel had a net margin of 9.67% and a return on equity of 25.13%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.42 earnings per share. As a group, sell-side analysts forecast that Allegiant Travel will post 13.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, June 13th. Allegiant Travel’s dividend payout ratio is currently 28.00%.
In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 4,222 shares of Allegiant Travel stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $148.17, for a total transaction of $625,573.74. Following the completion of the transaction, the chief executive officer now owns 2,920,954 shares in the company, valued at $432,797,754.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of Allegiant Travel stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $147.75, for a total transaction of $7,600,407.75. Following the transaction, the chief executive officer now owns 2,929,920 shares of the company’s stock, valued at approximately $432,895,680. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,184 shares of company stock worth $17,161,650. 20.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ALGT. Capital Investment Services of America Inc. grew its stake in Allegiant Travel by 1.9% during the second quarter. Capital Investment Services of America Inc. now owns 88,773 shares of the transportation company’s stock worth $12,739,000 after buying an additional 1,620 shares during the period. WINTON GROUP Ltd purchased a new stake in Allegiant Travel during the second quarter worth approximately $211,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Allegiant Travel during the first quarter worth approximately $155,000. GYL Financial Synergies LLC purchased a new stake in Allegiant Travel during the first quarter worth approximately $910,000. Finally, Anderson Fisher LLC grew its stake in Allegiant Travel by 17.8% during the first quarter. Anderson Fisher LLC now owns 15,635 shares of the transportation company’s stock worth $2,024,000 after buying an additional 2,365 shares during the period. Institutional investors own 79.77% of the company’s stock.
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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