Allegiant Travel (ALGT) Downgraded by Buckingham Research to Neutral
Buckingham Research downgraded shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a neutral rating in a research note published on Monday, Marketbeat.com reports.
Several other equities research analysts also recently issued reports on the company. Citigroup lowered their price target on Allegiant Travel from $175.00 to $168.00 and set a buy rating for the company in a report on Tuesday, September 26th. Morgan Stanley lowered their price target on Allegiant Travel from $139.00 to $133.00 and set an equal weight rating for the company in a report on Thursday, August 17th. Stifel Nicolaus restated a hold rating and issued a $135.00 price target (down from $150.00) on shares of Allegiant Travel in a report on Friday, September 22nd. ValuEngine downgraded Allegiant Travel from a buy rating to a hold rating in a report on Friday, September 1st. Finally, Cowen restated a hold rating and issued a $145.00 price target on shares of Allegiant Travel in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $146.45.
Allegiant Travel (NASDAQ ALGT) traded up $0.70 during midday trading on Monday, reaching $148.00. The company had a trading volume of 91,700 shares, compared to its average volume of 139,161. The company has a market capitalization of $2,368.28, a P/E ratio of 15.82, a PEG ratio of 6.05 and a beta of 0.16. The company has a quick ratio of 1.01, a current ratio of 1.05 and a debt-to-equity ratio of 1.78. Allegiant Travel has a fifty-two week low of $111.54 and a fifty-two week high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The business had revenue of $348.80 million during the quarter, compared to the consensus estimate of $349.79 million. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 earnings per share. equities research analysts predict that Allegiant Travel will post 8.6 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Wednesday, November 22nd were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.89%. Allegiant Travel’s dividend payout ratio (DPR) is presently 30.08%.
In other Allegiant Travel news, President John Redmond acquired 11,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $138.28 per share, with a total value of $1,521,080.00. Following the completion of the transaction, the president now directly owns 92,574 shares in the company, valued at approximately $12,801,132.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Scott Sheldon sold 5,872 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the completion of the sale, the chief financial officer now directly owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The disclosure for this sale can be found here. Corporate insiders own 21.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Diamond Hill Capital Management Inc. lifted its position in shares of Allegiant Travel by 19,391.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 404,441 shares of the transportation company’s stock valued at $53,265,000 after buying an additional 402,366 shares during the last quarter. Royce & Associates LP lifted its holdings in Allegiant Travel by 1,515.5% during the 3rd quarter. Royce & Associates LP now owns 197,103 shares of the transportation company’s stock worth $25,958,000 after purchasing an additional 184,902 shares during the last quarter. Capital Research Global Investors lifted its holdings in Allegiant Travel by 33.6% during the 2nd quarter. Capital Research Global Investors now owns 547,178 shares of the transportation company’s stock worth $74,197,000 after purchasing an additional 137,600 shares during the last quarter. FMR LLC lifted its holdings in Allegiant Travel by 8.7% during the 2nd quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock worth $137,508,000 after purchasing an additional 81,533 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Allegiant Travel by 96.3% during the 3rd quarter. New York State Common Retirement Fund now owns 127,441 shares of the transportation company’s stock worth $16,784,000 after purchasing an additional 62,520 shares during the last quarter. 86.22% of the stock is owned by institutional investors.
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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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