Allegiant Travel Company (ALGT) Earns “Sell” Rating from Barclays PLC

Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “sell” rating reaffirmed by Barclays PLC in a report released on Thursday. They presently have a $130.00 price target on the transportation company’s stock. Barclays PLC’s target price would suggest a potential upside of 7.00% from the stock’s current price.

Several other brokerages also recently commented on ALGT. Cowen and Company reaffirmed a “market perform” rating and set a $157.00 target price on shares of Allegiant Travel in a report on Tuesday, May 30th. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a report on Monday, July 17th. Sidoti reissued a “buy” rating and issued a $186.00 price objective (up previously from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $141.00 price objective (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $153.75.

Allegiant Travel (ALGT) opened at 121.50 on Thursday. The company has a 50-day moving average of $123.37 and a 200 day moving average of $143.06. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 11.40 and a beta of -0.01. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.02). The company had revenue of $400.60 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $3.68 EPS. On average, equities research analysts anticipate that Allegiant Travel will post $9.19 EPS for the current year.

Allegiant Travel declared that its board has initiated a share buyback program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “Allegiant Travel Company (ALGT) Earns “Sell” Rating from Barclays PLC” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://sportsperspectives.com/2017/09/14/allegiant-travel-company-algt-earns-sell-rating-from-barclays-plc.html.

A number of hedge funds have recently added to or reduced their stakes in ALGT. BlackRock Inc. increased 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 purchasing an additional 1,545,387 shares in the last quarter. Capital Research Global Investors increased its position in Allegiant Travel by 33.6% during the 2nd quarter. Capital Research Global Investors now owns 547,178 shares of the transportation company’s stock worth $74,197,000 after purchasing an additional 137,600 shares in the last quarter. Neuberger Berman Group LLC increased its position in Allegiant Travel by 17.6% during the 1st quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock worth $96,377,000 after purchasing an additional 90,037 shares in the last quarter. FMR LLC increased 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 purchasing an additional 81,533 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Allegiant Travel by 36.3% during the 1st quarter. Schroder Investment Management Group now owns 274,416 shares of the transportation company’s stock worth $44,277,000 after purchasing an additional 73,047 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply