Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “sell” rating reiterated by research analysts at Barclays PLC in a report issued on Thursday, September 14th. They presently have a $130.00 price target on the transportation company’s stock. Barclays PLC’s target price would suggest a potential downside of 0.08% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Cowen and Company reaffirmed a “market perform” rating and set a $157.00 target price on shares of Allegiant Travel in a research report on Tuesday, May 30th. Bank of America Corporation cut their price target on Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, June 30th. Morgan Stanley cut their price target on Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating on the stock in a report on Thursday, August 17th. BidaskClub downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $149.00.
Allegiant Travel (NASDAQ:ALGT) opened at 130.10 on Thursday. Allegiant Travel has a 12-month low of $111.54 and a 12-month high of $182.25. The firm has a market capitalization of $2.11 billion, a P/E ratio of 12.20 and a beta of -0.01. The firm has a 50 day moving average of $121.52 and a 200 day moving average of $141.23.
Allegiant Travel (NASDAQ:ALGT) last issued its earnings results 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 firm had revenue of $400.60 million for the quarter, compared to the consensus estimate of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $3.68 earnings per share. On average, analysts forecast that Allegiant Travel will post $9.17 EPS for the current fiscal year.
Allegiant Travel announced that its Board of Directors has approved a share buyback program on Wednesday, July 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Allegiant Travel by 141,260.2% during the 1st quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after acquiring an additional 1,545,387 shares during the period. Vanguard Group Inc. lifted its position in Allegiant Travel by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,177,526 shares of the transportation company’s stock worth $159,672,000 after acquiring an additional 20,068 shares during the period. FMR LLC lifted its position in Allegiant Travel by 8.7% during the 2nd quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock worth $137,508,000 after acquiring an additional 81,533 shares during the period. TimesSquare Capital Management LLC lifted its position in Allegiant Travel by 9.4% during the 2nd quarter. TimesSquare Capital Management LLC now owns 676,292 shares of the transportation company’s stock worth $91,705,000 after acquiring an additional 58,065 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in Allegiant Travel by 1.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 611,579 shares of the transportation company’s stock worth $82,930,000 after acquiring an additional 10,163 shares during the period. 82.39% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Allegiant Travel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel Company and related companies with our FREE daily email newsletter.