Allegiant Travel Co. (ALGT) Sees Unusually-High Trading Volume
Shares of Allegiant Travel Co. (NASDAQ:ALGT) saw unusually-strong trading volume on Wednesday . Approximately 199,487 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 186,785 shares.The stock last traded at $144.13 and had previously closed at $144.52.
Several analysts have issued reports on ALGT shares. Deutsche Bank AG upped their price objective on Allegiant Travel from $200.00 to $203.00 in a research note on Friday, April 8th. Zacks Investment Research lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Wednesday, March 9th. Cowen and Company restated a “market perform” rating and issued a $178.00 price objective (down previously from $180.00) on shares of Allegiant Travel in a research note on Thursday, April 28th. Credit Suisse Group AG dropped their price objective on Allegiant Travel from $180.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Finally, Sterne Agee CRT restated a “neutral” rating on shares of Allegiant Travel in a research note on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $202.92.
The stock’s 50 day moving average is $143.43 and its 200-day moving average is $159.24. The firm has a market capitalization of $2.43 billion and a price-to-earnings ratio of 10.81.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, April 27th. The company reported $4.29 EPS for the quarter, topping analysts’ consensus estimates of $4.28 by $0.01. The firm had revenue of $348.60 million for the quarter, compared to analysts’ expectations of $340.97 million. During the same period in the prior year, the firm posted $3.74 earnings per share. Allegiant Travel’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts anticipate that Allegiant Travel Co. will post $13.57 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Allegiant Travel by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 360,253 shares of the company’s stock worth $60,464,000 after buying an additional 16,632 shares in the last quarter. Schroder Investment Management Group boosted its stake in Allegiant Travel by 23.6% in the fourth quarter. Schroder Investment Management Group now owns 117,292 shares of the company’s stock valued at $19,685,000 after buying an additional 22,400 shares during the period. Henderson Group PLC boosted its stake in Allegiant Travel by 1.6% in the fourth quarter. Henderson Group PLC now owns 107,339 shares of the company’s stock valued at $18,015,000 after buying an additional 1,725 shares during the period. Principal Financial Group Inc. boosted its stake in Allegiant Travel by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 88,380 shares of the company’s stock valued at $14,833,000 after buying an additional 3,109 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Allegiant Travel by 13.0% in the fourth quarter. Nationwide Fund Advisors now owns 62,497 shares of the company’s stock valued at $10,489,000 after buying an additional 7,190 shares during the period.
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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