Allegiant Travel (ALGT) Given Market Perform Rating at Cowen
Cowen reiterated their market perform rating on shares of Allegiant Travel (NASDAQ:ALGT) in a report published on Friday morning. They currently have a $158.00 target price on the transportation company’s stock, up from their prior target price of $145.00.
ALGT has been the topic of a number of other reports. Barclays restated a sell rating and issued a $130.00 price target on shares of Allegiant Travel in a research note on Thursday, September 14th. Bank of America reiterated a neutral rating and set a $145.00 target price (down from $150.00) on shares of Allegiant Travel in a research report on Tuesday, October 10th. BidaskClub downgraded Allegiant Travel from a sell rating to a strong sell rating in a research report on Tuesday, August 22nd. Macquarie initiated coverage on Allegiant Travel in a research report on Monday, September 25th. They set a neutral rating and a $119.00 target price on the stock. Finally, Stifel Nicolaus reiterated a hold rating and set a $135.00 target price on shares of Allegiant Travel in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $146.45.
Allegiant Travel (ALGT) traded down $4.50 during trading on Friday, hitting $147.50. The company had a trading volume of 247,265 shares, compared to its average volume of 122,056. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05. Allegiant Travel has a 12-month low of $111.54 and a 12-month high of $182.25. The stock has a market capitalization of $2,443.84, a P/E ratio of 16.33, a PEG ratio of 6.29 and a beta of 0.16.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.08. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The firm had revenue of $348.80 million for the quarter, compared to the consensus estimate of $349.79 million. During the same period in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts expect that Allegiant Travel will post 8.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.90%. Allegiant Travel’s dividend payout ratio is presently 30.08%.
In other Allegiant Travel news, CFO Scott Sheldon sold 5,872 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $137.63, for a total transaction of $808,163.36. Following the completion of the sale, the chief financial officer now directly owns 21,202 shares in the company, valued at $2,918,031.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President John Redmond purchased 11,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were purchased at an average price of $138.28 per share, with a total value of $1,521,080.00. Following the completion of the purchase, the president now directly owns 92,574 shares of the company’s stock, valued at $12,801,132.72. The disclosure for this purchase can be found here. Corporate insiders own 21.00% of the company’s stock.
Large investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Allegiant Travel by 28.9% during the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after acquiring an additional 186 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of Allegiant Travel by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after buying an additional 599 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Allegiant Travel by 81.8% in the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after buying an additional 504 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Allegiant Travel by 2.0% in the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after buying an additional 23 shares in the last quarter. Institutional investors own 86.22% of the company’s stock.
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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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