Allegiant Travel Co. (NASDAQ:ALGT)’s share price dropped 2.9% during trading on Wednesday . The stock traded as low as $136.38 and last traded at $136.49, with a volume of 138,058 shares changing hands. The stock had previously closed at $140.60.

ALGT has been the subject of several research analyst reports. Sterne Agee CRT reiterated a “neutral” rating on shares of Allegiant Travel in a research note on Monday, May 16th. Zacks Investment Research cut Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Barclays PLC cut Allegiant Travel from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $205.00 to $188.00 in a research note on Friday, April 15th. Credit Suisse Group AG reduced their target price on Allegiant Travel from $180.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. Finally, Deutsche Bank AG increased their target price on Allegiant Travel from $200.00 to $203.00 in a research note on Friday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $200.91.

The company has a market cap of $2.24 billion and a PE ratio of 9.97. The firm has a 50 day moving average of $145.23 and a 200 day moving average of $156.97.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, April 27th. The company reported $4.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.28 by $0.01. The business earned $348.60 million during the quarter, compared to analyst estimates of $340.97 million. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $3.74 EPS. On average, equities research analysts anticipate that Allegiant Travel Co. will post $13.23 EPS for the current fiscal year.

A number of hedge funds have added to or reduced their stakes in ALGT. Westfield Capital Management Co. LP raised its stake in Allegiant Travel by 75.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 214,861 shares of the company’s stock worth $36,060,000 after buying an additional 92,167 shares during the period. Matarin Capital Management LLC acquired a new stake in Allegiant Travel during the fourth quarter worth about $5,864,000. BBT Capital Management LLC raised its stake in Allegiant Travel by 306.6% in the fourth quarter. BBT Capital Management LLC now owns 40,676 shares of the company’s stock worth $6,827,000 after buying an additional 30,671 shares during the period. Schroder Investment Management Group raised 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 worth $19,685,000 after buying an additional 22,400 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake 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 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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