Allegiant Travel Company (NASDAQ:ALGT)’s share price hit a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $139.00 to $133.00. Morgan Stanley currently has an equal weight rating on the stock. Allegiant Travel traded as low as $119.25 and last traded at $119.40, with a volume of 79,709 shares. The stock had previously closed at $123.40.

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Monday, July 17th. Sidoti reiterated a “buy” rating and set a $186.00 target price (up from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and set a $173.00 target price on shares of Allegiant Travel in a research report on Wednesday, April 19th. Finally, Deutsche Bank AG lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $153.00 in a report on Wednesday, April 26th. 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 company’s stock. The stock has a consensus rating of “Hold” and an average target price of $157.92.

In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total value of $213,120.00. Following the sale, the senior vice president now directly owns 15,054 shares in the company, valued at $2,138,872.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 21.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Allegiant Travel by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after buying an additional 1,545,387 shares during the period. Capital Research Global Investors raised its stake in Allegiant Travel by 33.6% in the second quarter. Capital Research Global Investors now owns 547,178 shares of the transportation company’s stock valued at $74,197,000 after buying an additional 137,600 shares during the period. Neuberger Berman Group LLC raised its stake in Allegiant Travel by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock valued at $96,377,000 after buying an additional 90,037 shares during the period. FMR LLC raised its stake in Allegiant Travel by 8.7% in the second quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock valued at $137,508,000 after buying an additional 81,533 shares during the period. Finally, Schroder Investment Management Group raised its stake in Allegiant Travel by 36.3% in the first quarter. Schroder Investment Management Group now owns 274,416 shares of the transportation company’s stock valued at $44,277,000 after buying an additional 73,047 shares during the period. Institutional investors own 85.73% of the company’s stock.

The stock has a market cap of $1.94 billion, a P/E ratio of 11.22 and a beta of -0.05. The firm has a 50 day moving average of $135.16 and a 200-day moving average of $150.07.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.96 by $0.02. The firm had revenue of $400.60 million during the quarter, compared to analyst estimates of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.68 EPS. Equities research analysts anticipate that Allegiant Travel Company will post $9.38 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. Allegiant Travel’s dividend payout ratio (DPR) is currently 26.24%.

Allegiant Travel declared that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/08/17/allegiant-travel-company-algt-hits-new-12-month-low-after-analyst-downgrade.html.

Allegiant Travel Company Profile

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.

Receive News & Ratings for Allegiant Travel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel Company and related companies with MarketBeat.com's FREE daily email newsletter.