Allegiant Travel (NASDAQ:ALGT) has earned an average rating of “Buy” from the seventeen research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $156.58.
ALGT has been the topic of several research reports. BidaskClub lowered Allegiant Travel from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Imperial Capital reaffirmed an “outperform” rating and set a $180.00 price objective (up previously from $162.00) on shares of Allegiant Travel in a report on Friday, April 26th. ValuEngine raised Allegiant Travel from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. Macquarie raised Allegiant Travel from a “neutral” rating to an “outperform” rating and set a $149.00 price objective on the stock in a report on Tuesday, March 26th. Finally, Zacks Investment Research lowered Allegiant Travel from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd.
In other news, CEO Maurice J. Gallagher, Jr. sold 9,737 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $128.05, for a total transaction of $1,246,822.85. Following the completion of the sale, the chief executive officer now owns 2,987,079 shares in the company, valued at $382,495,465.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $249,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,921 shares of company stock worth $16,310,422. Corporate insiders own 20.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ALGT. Wasatch Advisors Inc. boosted its stake in shares of Allegiant Travel by 19.7% during the first quarter. Wasatch Advisors Inc. now owns 640,318 shares of the transportation company’s stock worth $82,902,000 after buying an additional 105,173 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Allegiant Travel by 1,015.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 84,620 shares of the transportation company’s stock worth $8,481,000 after buying an additional 77,034 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Allegiant Travel by 14.7% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 597,208 shares of the transportation company’s stock worth $59,852,000 after buying an additional 76,703 shares during the period. Norges Bank acquired a new stake in shares of Allegiant Travel during the fourth quarter worth about $6,493,000. Finally, Millennium Management LLC boosted its stake in shares of Allegiant Travel by 192.4% during the fourth quarter. Millennium Management LLC now owns 67,605 shares of the transportation company’s stock worth $6,775,000 after buying an additional 44,486 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.
NASDAQ:ALGT opened at $143.00 on Monday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 14.30 and a beta of 0.92. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.07. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $157.48.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.88 by $0.10. The firm had revenue of $451.60 million for the quarter, compared to analyst estimates of $452.24 million. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. Allegiant Travel’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.42 earnings per share. Analysts predict that Allegiant Travel will post 13.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, June 13th. Allegiant Travel’s payout ratio is 28.00%.
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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