StockNews.com initiated coverage on shares of Allegiant Travel (NASDAQ:ALGT – Get Rating) in a report published on Thursday. The firm issued a hold rating on the transportation company’s stock.
Other research analysts have also recently issued reports about the stock. TheStreet cut shares of Allegiant Travel from a b- rating to a c+ rating in a research note on Thursday, February 3rd. Raymond James cut shares of Allegiant Travel from a strong-buy rating to a market perform rating in a research note on Wednesday, January 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Allegiant Travel from $275.00 to $247.00 in a research note on Thursday, February 3rd. Zacks Investment Research upgraded shares of Allegiant Travel from a strong sell rating to a hold rating and set a $160.00 target price on the stock in a research note on Tuesday, March 22nd. Finally, Barclays dropped their target price on shares of Allegiant Travel from $305.00 to $275.00 and set an overweight rating on the stock in a research note on Friday, January 14th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $234.70.
Allegiant Travel stock opened at $160.17 on Thursday. Allegiant Travel has a fifty-two week low of $132.03 and a fifty-two week high of $255.76. The stock has a market cap of $2.90 billion, a PE ratio of 18.45 and a beta of 1.58. The firm’s 50-day simple moving average is $164.30 and its 200 day simple moving average is $178.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.98 and a current ratio of 2.02.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last released its quarterly earnings results on Wednesday, February 2nd. The transportation company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.05. Allegiant Travel had a net margin of 8.89% and a return on equity of 3.37%. The business had revenue of $496.90 million for the quarter, compared to analysts’ expectations of $483.75 million. During the same period in the previous year, the company earned ($1.12) earnings per share. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. As a group, analysts predict that Allegiant Travel will post 7.93 EPS for the current fiscal year.
In related news, CMO Scott Wayne Deangelo sold 500 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $162.87, for a total transaction of $81,435.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary Ellmer sold 630 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $185.00, for a total transaction of $116,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,094 shares of company stock worth $4,094,497 over the last 90 days. 16.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. bought a new position in shares of Allegiant Travel in the 1st quarter worth $155,000. Morgan Stanley increased its holdings in shares of Allegiant Travel by 146.2% in the 2nd quarter. Morgan Stanley now owns 196,844 shares of the transportation company’s stock worth $38,189,000 after buying an additional 116,891 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Allegiant Travel by 10.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 11,909 shares of the transportation company’s stock valued at $2,310,000 after purchasing an additional 1,121 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Allegiant Travel by 345.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 12,082 shares of the transportation company’s stock valued at $2,362,000 after purchasing an additional 9,368 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Allegiant Travel by 700.0% during the 3rd quarter. Strs Ohio now owns 800 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 700 shares during the last quarter. 86.20% of the stock is currently owned by institutional investors and hedge funds.
About Allegiant Travel (Get Rating)
Allegiant Travel Company, a leisure travel company, provides 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. As of February 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.
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