Allegiant Travel’s (ALGT) Sell Rating Reiterated at Barclays PLC

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.

WARNING: “Allegiant Travel’s (ALGT) Sell Rating Reiterated at Barclays PLC” was posted by BBNS and is the sole property of of BBNS. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://baseballnewssource.com/markets/allegiant-travel-company-algt-receives-sell-rating-from-barclays-plc/1645410.html.

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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.