Allegiant Travel (ALGT) Cut to Peer Perform at Wolfe Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Friday, MarketBeat.com reports.

ALGT has been the topic of several other research reports. Citigroup reduced their target price on shares of Allegiant Travel from $195.00 to $193.00 and set a “buy” rating on the stock in a research note on Tuesday, May 29th. Cowen reduced their target price on shares of Allegiant Travel from $166.00 to $142.00 and set a “market perform” rating on the stock in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Finally, BidaskClub raised shares of Allegiant Travel from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $152.36.

ALGT stock opened at $122.75 on Friday. Allegiant Travel has a 52 week low of $117.30 and a 52 week high of $181.45. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.48 and a beta of 0.16.

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

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

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Allegiant Travel by 8.9% in the 2nd quarter. BlackRock Inc. now owns 1,737,630 shares of the transportation company’s stock worth $241,443,000 after buying an additional 142,477 shares during the period. Neuberger Berman Group LLC increased its stake in Allegiant Travel by 6.1% in the 1st quarter. Neuberger Berman Group LLC now owns 675,500 shares of the transportation company’s stock worth $116,558,000 after buying an additional 38,911 shares during the period. Dimensional Fund Advisors LP increased its stake in Allegiant Travel by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 430,716 shares of the transportation company’s stock worth $59,848,000 after buying an additional 5,280 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Allegiant Travel by 4.6% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 419,139 shares of the transportation company’s stock worth $58,239,000 after buying an additional 18,564 shares during the period. Finally, First Pacific Advisors LLC increased its stake in Allegiant Travel by 7.6% in the 1st quarter. First Pacific Advisors LLC now owns 352,783 shares of the transportation company’s stock worth $60,873,000 after buying an additional 24,769 shares during the period. 96.19% of the stock is currently owned by institutional investors.

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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