Allegiant Travel Company (ALGT) Given Consensus Rating of “Hold” by Brokerages

Allegiant Travel Company (NASDAQ:ALGT) has earned an average rating of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $158.55.

A number of equities analysts have weighed in on ALGT shares. Zacks Investment Research lowered Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Friday, April 14th. Stifel Nicolaus reissued a “hold” rating and set a $173.00 price objective on shares of Allegiant Travel in a research note on Wednesday, April 19th. ValuEngine lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a research note on Monday, July 10th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $130.00 price target (down previously from $153.00) on shares of Allegiant Travel in a research note on Thursday, July 27th.

In related news, SVP Gregory Clark Anderson sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the sale, the senior vice president now owns 15,054 shares in the company, valued at approximately $2,138,872.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.00% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its stake in Allegiant Travel by 1.7% in the second quarter. Neuberger Berman Group LLC now owns 611,579 shares of the transportation company’s stock valued at $82,930,000 after buying an additional 10,163 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Allegiant Travel by 14.4% in the second quarter. GHP Investment Advisors Inc. now owns 7,901 shares of the transportation company’s stock valued at $1,071,000 after buying an additional 992 shares in the last quarter. Victory Capital Management Inc. increased its stake in 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. Marshall Wace North America L.P. purchased a new stake in Allegiant Travel during the second quarter valued at about $919,000. Finally, BNP Paribas Arbitrage SA increased its stake in Allegiant Travel by 45.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,054 shares of the transportation company’s stock valued at $685,000 after buying an additional 1,591 shares in the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.

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Shares of Allegiant Travel (ALGT) traded down 0.38% during mid-day trading on Tuesday, reaching $130.05. The company had a trading volume of 113,467 shares. Allegiant Travel has a 1-year low of $123.74 and a 1-year high of $182.25. The stock’s 50-day moving average price is $139.00 and its 200 day moving average price is $153.15. The company has a market capitalization of $2.11 billion, a PE ratio of 12.20 and a beta of -0.05.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.96 by $0.02. The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $3.68 EPS. Equities analysts expect that Allegiant Travel will post $9.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. Allegiant Travel’s dividend payout ratio is presently 26.24%.

Allegiant Travel announced that its board has initiated a stock buyback plan on Wednesday, July 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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