Allegiant Travel (NASDAQ:ALGT) had its price target boosted by Barclays from $145.00 to $158.00 in a research note released on Tuesday, The Fly reports. Barclays currently has an underweight rating on the transportation company’s stock.
Several other analysts have also issued reports on the stock. BidaskClub raised shares of Allegiant Travel from a hold rating to a buy rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted their price target on shares of Allegiant Travel from $164.00 to $167.00 and gave the company an equal weight rating in a research report on Monday, November 11th. Stifel Nicolaus set a $180.00 price target on shares of Allegiant Travel and gave the company a buy rating in a research report on Friday, October 25th. ValuEngine lowered shares of Allegiant Travel from a sell rating to a strong sell rating in a research report on Tuesday, September 10th. Finally, Buckingham Research boosted their price objective on shares of Allegiant Travel from $191.00 to $206.00 and gave the company a buy rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Allegiant Travel presently has a consensus rating of Buy and an average target price of $170.00.
Shares of ALGT traded up $0.22 during trading hours on Tuesday, reaching $170.30. 132,300 shares of the stock traded hands, compared to its average volume of 189,978. The stock has a fifty day simple moving average of $157.91 and a 200 day simple moving average of $147.93. Allegiant Travel has a 52 week low of $98.18 and a 52 week high of $174.92. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.47. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.44 and a beta of 0.92.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Thursday, October 24th. The transportation company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.49. Allegiant Travel had a net margin of 11.85% and a return on equity of 28.76%. The company had revenue of $436.51 million for the quarter, compared to analyst estimates of $429.44 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts predict that Allegiant Travel will post 14.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 22nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.64%. Allegiant Travel’s dividend payout ratio is currently 28.00%.
In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 60,908 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $163.14, for a total value of $9,936,531.12. Following the completion of the transaction, the chief executive officer now owns 2,847,476 shares of the company’s stock, valued at approximately $464,537,234.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 14,092 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $169.81, for a total transaction of $2,392,962.52. Following the completion of the transaction, the chief executive officer now directly owns 2,847,476 shares of the company’s stock, valued at approximately $483,529,899.56. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ALGT. Quest Capital Management Inc. ADV purchased a new position in Allegiant Travel in the 3rd quarter worth approximately $25,000. Advisors Preferred LLC purchased a new stake in shares of Allegiant Travel in the 2nd quarter valued at $26,000. MUFG Americas Holdings Corp purchased a new stake in shares of Allegiant Travel in the 2nd quarter valued at $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Allegiant Travel by 68.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 135 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Allegiant Travel by 55.8% in the 2nd quarter. Advisor Group Inc. now owns 360 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 129 shares in the last quarter. 79.95% of the stock is owned by institutional investors and hedge funds.
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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