Allegiant Travel (NASDAQ:ALGT) had its price target boosted by Morgan Stanley from $152.00 to $164.00 in a report released on Thursday, AnalystRatings.com reports. The brokerage currently has an equal weight rating on the transportation company’s stock.
Other equities analysts have also recently issued reports about the stock. ValuEngine cut shares of Allegiant Travel from a sell rating to a strong sell rating in a research report on Tuesday, September 10th. BidaskClub raised shares of Allegiant Travel from a sell rating to a hold rating in a research report on Saturday, September 7th. Sidoti upped their price objective on shares of Allegiant Travel from $178.00 to $180.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Citigroup increased their price target on shares of Allegiant Travel from $180.00 to $182.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Finally, Buckingham Research increased their price target on shares of Allegiant Travel from $186.00 to $191.00 and gave the stock a buy rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $165.17.
NASDAQ:ALGT traded down $0.10 on Thursday, reaching $149.92. The stock had a trading volume of 44,802 shares, compared to its average volume of 171,029. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average of $147.13 and a 200 day moving average of $142.89. The stock has a market cap of $2.44 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.40 and a beta of 0.92. Allegiant Travel has a 12-month low of $98.18 and a 12-month high of $157.50.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $4.33 earnings per share for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.34). The firm had revenue of $491.80 million during the quarter, compared to analysts’ expectations of $504.81 million. Allegiant Travel had a net margin of 10.54% and a return on equity of 26.59%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.10 earnings per share. On average, equities analysts predict that Allegiant Travel will post 14.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. Allegiant Travel’s payout ratio is 28.00%.
In related news, CEO Maurice J. Gallagher, Jr. sold 19,269 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $151.14, for a total transaction of $2,912,316.66. Following the sale, the chief executive officer now owns 2,901,373 shares in the company, valued at $438,513,515.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 40,731 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $154.40, for a total transaction of $6,288,866.40. Following the sale, the chief executive officer now owns 2,889,421 shares in the company, valued at approximately $446,126,602.40. The disclosure for this sale can be found here. Insiders have sold 62,000 shares of company stock worth $9,491,113 in the last ninety days. Corporate insiders own 20.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in Allegiant Travel during the second quarter worth about $26,000. MUFG Americas Holdings Corp acquired a new stake in Allegiant Travel during the second quarter worth about $29,000. Advisor Group Inc. raised its stake in Allegiant Travel by 55.8% during the second quarter. Advisor Group Inc. now owns 360 shares of the transportation company’s stock worth $51,000 after acquiring an additional 129 shares during the period. Clear Perspective Advisors LLC acquired a new stake in Allegiant Travel during the second quarter worth about $57,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Allegiant Travel during the first quarter worth about $155,000. Hedge funds and other institutional investors own 80.61% of the company’s stock.
About Allegiant Travel
Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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