Allegiant Travel (NASDAQ:ALGT) Stock Rating Lowered by Zacks Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. Wolfe Research upgraded shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Friday, December 12th. Morgan Stanley raised their price objective on Allegiant Travel from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Finally, UBS Group boosted their target price on Allegiant Travel from $87.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.73.

Allegiant Travel Stock Up 1.9%

Shares of ALGT stock opened at $92.78 on Monday. Allegiant Travel has a twelve month low of $39.80 and a twelve month high of $100.88. The stock’s 50 day simple moving average is $86.05 and its 200 day simple moving average is $69.73. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.95 and a current ratio of 0.98. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -5.69, a PEG ratio of 0.25 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, November 4th. The transportation company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of ($1.84) by ($0.25). Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The business had revenue of $561.93 million for the quarter, compared to the consensus estimate of $575.13 million. During the same quarter in the previous year, the company earned ($2.02) EPS. Allegiant Travel’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALGT. Hantz Financial Services Inc. boosted its position in shares of Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC raised its holdings in Allegiant Travel by 27.3% during the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after buying an additional 117 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after acquiring an additional 205 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Allegiant Travel by 43.7% in the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after purchasing an additional 373 shares during the last quarter. Finally, AlphaQuest LLC raised its position in Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.