Somewhat Positive News Coverage Somewhat Unlikely to Affect Allegiant Travel (ALGT) Stock Price
Press coverage about Allegiant Travel (NASDAQ:ALGT) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Allegiant Travel earned a news impact score of 0.13 on Accern’s scale. Accern also assigned news articles about the transportation company an impact score of 45.9526981071553 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s rankings:
- Zacks: Analysts Anticipate Allegiant Travel Company (NASDAQ:ALGT) Will Announce Quarterly Sales of $354.80 Million (americanbankingnews.com)
- Allegiant Travel Co (ALGT) Shares Moving On Volume (wpsuperfanboy.com)
- Airlines: Being on time costs way more money (finance.yahoo.com)
- Zacks: Brokerages Anticipate Allegiant Travel Company (NASDAQ:ALGT) Will Announce Earnings of $1.57 Per Share (americanbankingnews.com)
- What Do You Want, Cheap Airfare or an On-Time Flight? (finance.yahoo.com)
Allegiant Travel (NASDAQ ALGT) traded up 2.30% on Friday, reaching $131.45. The company had a trading volume of 108,732 shares. The stock’s 50-day moving average price is $140.24 and its 200-day moving average price is $153.67. Allegiant Travel has a 12-month low of $121.70 and a 12-month high of $182.25. The stock has a market capitalization of $2.13 billion, a P/E ratio of 12.33 and a beta of -0.05.
Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the consensus estimate of $2.96 by $0.02. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The company had revenue of $400.60 million during the quarter, compared to the consensus estimate of $399.58 million. During the same quarter in the prior year, the business earned $3.68 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts anticipate that Allegiant Travel will post $9.39 EPS for the current fiscal year.
Allegiant Travel declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the transportation company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently issued reports on ALGT. Bank of America Corporation cut shares of Allegiant Travel from a “buy” rating to a “neutral” rating and reduced their target price for the company from $205.00 to $175.00 in a research report on Wednesday, April 26th. Cowen and Company reduced their target price on shares of Allegiant Travel from $162.00 to $157.00 and set a “market perform” rating for the company in a research report on Wednesday, April 26th. Deutsche Bank AG cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their target price for the company from $190.00 to $153.00 in a research report on Wednesday, April 26th. Stifel Nicolaus reissued a “hold” rating and issued a $173.00 target price on shares of Allegiant Travel in a research report on Wednesday, April 19th. Finally, Imperial Capital reduced their target price on shares of Allegiant Travel from $182.00 to $170.00 and set an “in-line” rating for the company in a research report on Wednesday, April 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Allegiant Travel presently has an average rating of “Hold” and an average target price of $158.58.
In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the completion of the transaction, the senior vice president now owns 15,054 shares in the company, valued at approximately $2,138,872.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.00% of the stock is owned by company insiders.
About Allegiant Travel
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. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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