Allegiant Travel (NASDAQ:ALGT) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $180.00 target price on the transportation company’s stock. Evercore ISI’s price objective points to a potential upside of 42.50% from the company’s previous close.

Several other research firms have also weighed in on ALGT. Imperial Capital reissued an “in-line” rating and set a $152.00 price objective (up from $124.00) on shares of Allegiant Travel in a research note on Tuesday. BidaskClub lowered Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Saturday, September 8th. ValuEngine raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Zacks Investment Research raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, Citigroup raised their price objective on Allegiant Travel from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Thursday, November 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $155.50.

ALGT opened at $126.32 on Thursday. The firm has a market cap of $2.18 billion, a PE ratio of 13.29, a P/E/G ratio of 0.63 and a beta of 0.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.50. Allegiant Travel has a fifty-two week low of $105.21 and a fifty-two week high of $181.45.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.02). The company had revenue of $393.11 million for the quarter, compared to the consensus estimate of $390.30 million. Allegiant Travel had a return on equity of 26.83% and a net margin of 12.42%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. Equities research analysts forecast that Allegiant Travel will post 9.51 earnings per share for the current fiscal year.

In other Allegiant Travel news, President John Redmond bought 12,000 shares of Allegiant Travel stock in a transaction dated Wednesday, October 31st. The stock was bought at an average price of $115.42 per share, for a total transaction of $1,385,040.00. Following the completion of the acquisition, the president now directly owns 102,125 shares of the company’s stock, valued at $11,787,267.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Allegiant Travel by 4.6% in the third quarter. BlackRock Inc. now owns 1,817,588 shares of the transportation company’s stock valued at $230,470,000 after purchasing an additional 79,958 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Allegiant Travel by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,273,151 shares of the transportation company’s stock valued at $161,435,000 after purchasing an additional 32,199 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Allegiant Travel by 1.3% in the third quarter. Neuberger Berman Group LLC now owns 683,606 shares of the transportation company’s stock valued at $86,681,000 after purchasing an additional 8,896 shares in the last quarter. First Pacific Advisors LP lifted its holdings in shares of Allegiant Travel by 9.0% in the third quarter. First Pacific Advisors LP now owns 554,850 shares of the transportation company’s stock valued at $70,355,000 after purchasing an additional 45,651 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Allegiant Travel by 24.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 520,505 shares of the transportation company’s stock valued at $66,000,000 after purchasing an additional 101,366 shares in the last quarter. Institutional investors own 86.08% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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