Goldman Sachs Group lowered shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a neutral rating in a report issued on Sunday, BenzingaRatingsTable reports. The brokerage currently has $142.00 target price on the transportation company’s stock, up from their previous target price of $133.00.
Several other equities analysts have also weighed in on the company. Raymond James raised Allegiant Travel from an outperform rating to a strong-buy rating and lifted their price objective for the company from $115.00 to $135.00 in a research note on Monday, June 22nd. TheStreet cut shares of Allegiant Travel from a b- rating to a c rating in a research report on Thursday, March 19th. Bank of America decreased their price objective on shares of Allegiant Travel from $167.00 to $100.00 and set a buy rating for the company in a research note on Monday, March 23rd. BidaskClub raised shares of Allegiant Travel from a sell rating to a hold rating in a research note on Wednesday, June 17th. Finally, Barclays cut shares of Allegiant Travel from a neutral rating to an underweight rating and decreased their price target for the stock from $97.00 to $73.00 in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $144.23.
Shares of NASDAQ ALGT opened at $111.63 on Friday. The stock has a market capitalization of $1.73 billion, a PE ratio of 12.88 and a beta of 1.42. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 1.56. The firm has a fifty day moving average of $103.57 and a 200-day moving average of $124.48. Allegiant Travel has a 52-week low of $60.06 and a 52-week high of $183.26.
Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 12th. The transportation company reported $2.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $1.52. Allegiant Travel had a return on equity of 24.99% and a net margin of 7.86%. The firm had revenue of $409.20 million for the quarter, compared to analysts’ expectations of $409.47 million. During the same quarter last year, the firm earned $3.52 earnings per share. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. Equities research analysts expect that Allegiant Travel will post -6.1 EPS for the current fiscal year.
In related news, CEO Maurice J. Gallagher, Jr. sold 95,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $122.00, for a total value of $11,590,000.00. Following the completion of the transaction, the chief executive officer now owns 2,749,362 shares of the company’s stock, valued at $335,422,164. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President John Redmond acquired 5,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $122.89 per share, with a total value of $614,450.00. Following the purchase, the president now owns 242,375 shares in the company, valued at $29,785,463.75. The disclosure for this purchase can be found here. Insiders acquired a total of 7,000 shares of company stock worth $819,030 in the last quarter. 19.60% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. acquired a new stake in Allegiant Travel in the first quarter valued at $155,000. Victory Capital Management Inc. raised its stake in shares of Allegiant Travel by 84.2% in the 4th quarter. Victory Capital Management Inc. now owns 5,203 shares of the transportation company’s stock valued at $874,000 after purchasing an additional 2,379 shares in the last quarter. Swiss National Bank lifted its position in shares of Allegiant Travel by 4.0% during the fourth quarter. Swiss National Bank now owns 7,828 shares of the transportation company’s stock worth $1,362,000 after purchasing an additional 300 shares during the last quarter. Sei Investments Co. grew its stake in Allegiant Travel by 249.1% in the fourth quarter. Sei Investments Co. now owns 9,590 shares of the transportation company’s stock worth $1,657,000 after purchasing an additional 6,843 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Allegiant Travel by 189.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,128 shares of the transportation company’s stock worth $370,000 after purchasing an additional 1,392 shares in the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.
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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