Allegiant Travel Co. (ALGT) Trading 2.4% Higher
Allegiant Travel Co. (NASDAQ:ALGT) traded up 2.4% during mid-day trading on Tuesday . The company traded as high as $139.56 and last traded at $138.78, with a volume of 70,884 shares changing hands. The stock had previously closed at $135.57.
ALGT has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on Allegiant Travel from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Raymond James Financial Inc. raised Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Tuesday, June 14th. Zacks Investment Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Cowen and Company cut their price objective on Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating on the stock in a research note on Monday, August 1st. 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 five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $183.90.
The stock’s 50 day moving average is $134.95 and its 200 day moving average is $152.34. The firm has a market cap of $2.26 billion and a P/E ratio of 9.81.
Allegiant Travel (NASDAQ:ALGT) last announced 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. The company earned $344.90 million during the quarter, compared to analyst estimates of $343.11 million. Allegiant Travel’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.18 earnings per share. On average, analysts predict that Allegiant Travel Co. will post $12.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 17th. This represents a $2.80 annualized dividend and a yield of 2.03%.
A hedge fund recently raised its stake in Allegiant Travel stock. Schroder Investment Management Group raised its stake in Allegiant Travel Co. (NASDAQ:ALGT) by 23.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 117,292 shares of the company’s stock after buying an additional 22,400 shares during the period. Schroder Investment Management Group owned about 0.70% of Allegiant Travel worth $19,685,000 as of its most recent filing with the SEC.
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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