Allegiant Travel (NASDAQ:ALGT) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a buy rating in a research report report published on Wednesday, BidAskClub reports.

ALGT has been the subject of a number of other reports. Zacks Investment Research downgraded GasLog Partners LP Unit from a hold rating to a strong sell rating in a research report on Tuesday, April 2nd. ValuEngine downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. Macquarie set a $6.00 price target on Cheetah Mobile and gave the stock a sell rating in a research report on Tuesday, March 26th. Citigroup downgraded Apergy from a buy rating to a neutral rating and lowered their price target for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. Finally, Buckingham Research raised their price target on United Continental from $111.00 to $120.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Allegiant Travel has a consensus rating of Buy and a consensus price target of $160.42.

ALGT stock opened at $143.89 on Wednesday. The firm has a fifty day simple moving average of $142.73. Allegiant Travel has a fifty-two week low of $98.18 and a fifty-two week high of $152.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.39 and a beta of 0.89.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, April 24th. The transportation company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.10. Allegiant Travel had a net margin of 9.67% and a return on equity of 25.13%. The firm had revenue of $451.60 million during the quarter, compared to analyst estimates of $452.24 million. During the same period last year, the firm posted $3.42 earnings per share. Allegiant Travel’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Allegiant Travel will post 13.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. Allegiant Travel’s dividend payout ratio is presently 28.00%.

In other news, CEO Maurice J. Gallagher, Jr. sold 19,269 shares of Allegiant Travel stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $151.14, for a total transaction of $2,912,316.66. Following the completion of the sale, the chief executive officer now directly owns 2,901,373 shares in the company, valued at $438,513,515.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of Allegiant Travel stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $147.77, for a total value of $7,081,138.40. Following the sale, the chief executive officer now owns 2,929,920 shares of the company’s stock, valued at $432,954,278.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,453 shares of company stock valued at $20,073,966. 20.90% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Allegiant Travel by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 4,943 shares of the transportation company’s stock worth $640,000 after purchasing an additional 89 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Allegiant Travel by 1.3% during the first quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock worth $908,000 after purchasing an additional 89 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Allegiant Travel by 2.5% during the first quarter. Bank of Montreal Can now owns 3,990 shares of the transportation company’s stock worth $516,000 after purchasing an additional 98 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Allegiant Travel by 2.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 5,031 shares of the transportation company’s stock worth $651,000 after purchasing an additional 110 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its position in shares of Allegiant Travel by 29.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 566 shares of the transportation company’s stock worth $57,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Allegiant Travel Company Profile

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 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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