Allegiant Travel (ALGT) Downgraded by ValuEngine to Strong Sell

ValuEngine lowered shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

A number of other research firms also recently commented on ALGT. BidaskClub upgraded Allegiant Travel from a strong sell rating to a sell rating in a report on Saturday, July 21st. Zacks Investment Research downgraded Allegiant Travel from a hold rating to a sell rating in a report on Friday, July 20th. Barclays cut their price objective on Allegiant Travel from $135.00 to $117.00 and set an underweight rating on the stock in a report on Monday, July 16th. Stifel Nicolaus restated a buy rating and issued a $160.00 price objective (down from $190.00) on shares of Allegiant Travel in a report on Thursday, July 26th. Finally, Cowen dropped their target price on Allegiant Travel from $166.00 to $142.00 and set a market perform rating on the stock in a report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $151.40.

NASDAQ ALGT opened at $115.32 on Friday. The stock has a market cap of $1.73 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.50 and a beta of 0.13. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.54. Allegiant Travel has a twelve month low of $105.21 and a twelve month high of $181.45.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The firm had revenue of $393.11 million during the quarter, compared to analysts’ expectations of $390.30 million. Allegiant Travel had a return on equity of 27.46% and a net margin of 12.42%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 earnings per share. On average, equities analysts anticipate that Allegiant Travel will post 9.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Friday, November 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 2.43%. Allegiant Travel’s payout ratio is currently 29.32%.

In related news, EVP Robert Paul Wilson III sold 380 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total transaction of $51,303.80. Following the sale, the executive vice president now directly owns 17,816 shares in the company, valued at approximately $2,405,338.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 20.80% of the company’s stock.

Several large investors have recently made changes to their positions in ALGT. Schroder Investment Management Group grew its stake in Allegiant Travel by 206.3% during the 2nd quarter. Schroder Investment Management Group now owns 323,012 shares of the transportation company’s stock valued at $4,970,000 after purchasing an additional 217,539 shares in the last quarter. BlackRock Inc. grew its stake in 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 in the last quarter. Millennium Management LLC acquired a new stake in Allegiant Travel during the 2nd quarter valued at approximately $10,557,000. Royce & Associates LP grew its stake in Allegiant Travel by 52.1% during the 2nd quarter. Royce & Associates LP now owns 186,408 shares of the transportation company’s stock valued at $25,901,000 after purchasing an additional 63,877 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.

About Allegiant Travel

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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