Allegiant Travel Company (NASDAQ:ALGT) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Allegiant Travel Company (NASDAQ:ALGT) have earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $124.15.

Several brokerages have recently weighed in on ALGT. Citigroup reaffirmed a “buy” rating on shares of Allegiant Travel in a research note on Tuesday, October 6th. UBS Group upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $111.00 to $107.00 in a research report on Sunday, September 13th. Susquehanna decreased their price objective on shares of Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Zacks Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings raised shares of Allegiant Travel from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th.

Insiders Place Their Bets

In related news, Director Charles W. Pollard sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $93.04, for a total value of $930,400.00. Following the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,488,640. This trade represents a 38.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Russell Investments Group Ltd. raised its stake in shares of Allegiant Travel by 4.0% in the third quarter. Russell Investments Group Ltd. now owns 27,465 shares of the transportation company’s stock valued at $2,082,000 after acquiring an additional 1,065 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Allegiant Travel by 67.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 5,468 shares of the transportation company’s stock worth $414,000 after purchasing an additional 2,198 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Allegiant Travel in the 3rd quarter valued at about $1,421,000. Fulcrum Asset Management LLP acquired a new stake in Allegiant Travel in the 3rd quarter valued at about $682,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Allegiant Travel by 7.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 5,500 shares of the transportation company’s stock valued at $417,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $91.97 on Wednesday. The firm has a market cap of $2.51 billion, a PE ratio of 28.21, a P/E/G ratio of 0.29 and a beta of 1.65. Allegiant Travel has a twelve month low of $61.36 and a twelve month high of $123.63. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average price of $75.62 and a 200 day moving average price of $87.52.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.41. Allegiant Travel had a return on equity of 12.99% and a net margin of 1.65%. The company had revenue of $961.56 million for the quarter, compared to the consensus estimate of $946.44 million. During the same quarter in the prior year, the business posted ($2.09) earnings per share. Allegiant Travel’s revenue for the quarter was up 71.2% on a year-over-year basis. Sell-side analysts predict that Allegiant Travel will post 6.24 earnings per share for the current fiscal year.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.

Allegiant Air’s business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.