Allegiant Travel Company (ALGT) Stock Rating Reaffirmed by Stifel Nicolaus
Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “hold” rating reiterated by equities researchers at Stifel Nicolaus in a report released on Friday. They presently have a $135.00 price target on the transportation company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 3.77% from the company’s current price.
A number of other equities analysts also recently commented on ALGT. BidaskClub downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Morgan Stanley cut their price objective on shares of Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating for the company in a research report on Thursday, August 17th. Cowen and Company restated a “market perform” rating and set a $150.00 price objective (down previously from $157.00) on shares of Allegiant Travel in a research report on Thursday, July 27th. ValuEngine downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $149.00.
Shares of Allegiant Travel (ALGT) opened at 130.10 on Friday. The company’s 50-day moving average is $121.52 and its 200 day moving average is $141.23. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 12.20 and a beta of -0.01. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the Zacks’ consensus estimate of $2.96 by ($0.02). The firm had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.68 EPS. On average, analysts expect that Allegiant Travel will post $9.17 earnings per share for the current fiscal year.
Allegiant Travel announced that its Board of Directors has approved a share buyback plan on Wednesday, July 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can grew its stake in Allegiant Travel by 28.9% in the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock valued at $112,000 after acquiring an additional 186 shares during the last quarter. Victory Capital Management Inc. grew its stake in Allegiant Travel by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 127 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Allegiant Travel in the 1st quarter valued at about $146,000. Riverhead Capital Management LLC grew its stake in Allegiant Travel by 119.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after acquiring an additional 599 shares during the last quarter. Finally, Flinton Capital Management LLC grew its stake in Allegiant Travel by 81.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after acquiring an additional 504 shares during the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
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.
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