Shares of Allegiant Travel Co. (NASDAQ:ALGT) gapped up prior to trading on Friday . The stock had previously closed at $124.51, but opened at $124.89. Allegiant Travel shares last traded at $129.56, with a volume of 72,687 shares trading hands.

A number of brokerages recently commented on ALGT. Barclays PLC lowered Allegiant Travel from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $205.00 to $188.00 in a research report on Friday, April 15th. Credit Suisse Group AG decreased their target price on Allegiant Travel from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Allegiant Travel in a research report on Saturday, April 9th. Cowen and Company reaffirmed a “market perform” rating and issued a $178.00 target price (down from $180.00) on shares of Allegiant Travel in a research report on Thursday, April 28th. Finally, Raymond James Financial Inc. raised Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Allegiant Travel currently has an average rating of “Hold” and a consensus target price of $183.90.

The stock’s 50-day moving average is $141.03 and its 200-day moving average is $155.42. The firm has a market capitalization of $2.12 billion and a P/E ratio of 9.19.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Friday, July 29th. The company reported $3.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.55 by $0.13. During the same quarter in the prior year, the company posted $3.18 earnings per share. The firm had revenue of $344.90 million for the quarter, compared to analysts’ expectations of $343.11 million. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Allegiant Travel Co. will post $13.04 EPS for the current year.

A number of hedge funds recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of Allegiant Travel by 0.4% in the fourth quarter. Advisors Asset Management Inc. now owns 7,212 shares of the company’s stock valued at $1,210,000 after buying an additional 29 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Allegiant Travel by 1.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 7,371 shares of the company’s stock valued at $1,237,000 after buying an additional 75 shares during the period. Rhumbline Advisers raised its stake in shares of Allegiant Travel by 6.9% in the fourth quarter. Rhumbline Advisers now owns 19,912 shares of the company’s stock valued at $3,342,000 after buying an additional 1,279 shares during the period. Principal Financial Group Inc. raised its stake in shares of 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, State of Tennessee Treasury Department bought a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $1,729,000.

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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