Allegiant Travel (ALGT) Downgraded by Wolfe Research to Peer Perform

Wolfe Research cut shares of Allegiant Travel (NASDAQ:ALGT) from an outperform rating to a peer perform rating in a research note released on Friday, MarketBeat reports.

A number of other research firms have also weighed in on ALGT. BidaskClub lowered Allegiant Travel from a hold rating to a sell rating in a report on Saturday, September 8th. ValuEngine lowered Allegiant Travel from a hold rating to a sell rating in a report on Wednesday, June 27th. Zacks Investment Research upgraded Allegiant Travel from a sell rating to a hold rating in a report on Tuesday. Imperial Capital lowered their target price on Allegiant Travel from $165.00 to $121.00 and set an inline rating for the company in a report on Friday, July 27th. Finally, Buckingham Research lowered their target price on Allegiant Travel from $179.00 to $165.00 and set a buy rating for the company in a report on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $152.36.

Shares of NASDAQ ALGT traded down $0.70 during trading hours on Friday, reaching $122.75. The stock had a trading volume of 516,558 shares, compared to its average volume of 192,991. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.48 and a beta of 0.16. Allegiant Travel has a 52-week low of $117.30 and a 52-week high of $181.45.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 25th. The transportation company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.44. The firm had revenue of $436.80 million during the quarter, compared to analyst estimates of $437.69 million. Allegiant Travel had a return on equity of 30.22% and a net margin of 13.21%. Allegiant Travel’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.94 earnings per share. analysts forecast that Allegiant Travel will post 9.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.28%. Allegiant Travel’s dividend payout ratio is currently 29.32%.

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 380 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total transaction of $51,303.80. Following the completion of the sale, the executive vice president now owns 17,816 shares in the company, valued at $2,405,338.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 20.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Allegiant Travel by 8.9% during the 2nd quarter. BlackRock Inc. now owns 1,737,630 shares of the transportation company’s stock valued at $241,443,000 after purchasing an additional 142,477 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Allegiant Travel by 6.1% during the 1st quarter. Neuberger Berman Group LLC now owns 675,500 shares of the transportation company’s stock valued at $116,558,000 after purchasing an additional 38,911 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Allegiant Travel by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 430,716 shares of the transportation company’s stock valued at $59,848,000 after purchasing an additional 5,280 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Allegiant Travel by 4.6% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 419,139 shares of the transportation company’s stock valued at $58,239,000 after purchasing an additional 18,564 shares during the last quarter. Finally, First Pacific Advisors LLC lifted its holdings in shares of Allegiant Travel by 7.6% during the 1st quarter. First Pacific Advisors LLC now owns 352,783 shares of the transportation company’s stock valued at $60,873,000 after purchasing an additional 24,769 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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