Allegiant Travel Company (NASDAQ:ALGT) Stock Has Average Price Target of $123.38

by · The Markets Daily

Shares of Allegiant Travel Company (NASDAQ:ALGT – Get Free Report) have received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $124.15.

ALGT has been the subject of a number of research reports. Wall Street Zen lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. UBS Group upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $111.00 to $107.00 in a research report on Sunday, September 13th. Barclays dropped their price objective on shares of Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Susquehanna decreased their target price on Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $120.00 price objective on shares of Allegiant Travel in a research report on Thursday.

Get Our Latest Stock Analysis on Allegiant Travel

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $91.97 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83. Allegiant Travel has a 52 week low of $61.36 and a 52 week high of $123.63. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 0.27 and a beta of 1.65. The business’s 50-day simple moving average is $75.62 and its 200-day simple moving average is $87.52.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.41. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%. The firm had revenue of $961.56 million for the quarter, compared to analyst estimates of $946.44 million. During the same quarter in the prior year, the company earned ($2.09) earnings per share. The business’s revenue for the quarter was up 71.2% compared to the same quarter last year. As a group, equities research analysts expect that Allegiant Travel will post 5.59 earnings per share for the current fiscal year.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Charles W. Pollard sold 10,000 shares of Allegiant Travel 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 completion of the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,488,640. The trade was a 38.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALGT. BlackRock Inc. acquired a new stake in Allegiant Travel during the second quarter worth about $416,591,000. Donald Smith & CO. Inc. acquired a new position in shares of Allegiant Travel during the 2nd quarter valued at $175,636,000. Bank of New York Mellon Corp bought a new stake in shares of Allegiant Travel in the 2nd quarter worth approximately $33,013,000. Wellington Management Group LLP bought a new stake in shares of Allegiant Travel in the 2nd quarter worth approximately $26,232,000. Finally, Heartland Advisors Inc. purchased a new stake in shares of Allegiant Travel in the 2nd quarter worth approximately $21,737,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

(Get Free Report)

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.

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