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.
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.
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