Morgan Stanley Reiterates “Equal Weight” Rating for Allegiant Travel Company (ALGT)

Allegiant Travel Company (NASDAQ:ALGT)‘s stock had its “equal weight” rating reiterated by analysts at Morgan Stanley in a report released on Monday. They presently have a $141.00 price objective on the transportation company’s stock, down from their prior price objective of $144.00. Morgan Stanley’s price objective indicates a potential upside of 0.53% from the company’s current price.

ALGT has been the subject of several other reports. Imperial Capital restated an “in-line” rating and issued a $155.00 target price (down from $170.00) on shares of Allegiant Travel Company in a research note on Thursday, April 27th. Deutsche Bank AG downgraded shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and decreased their target price for the company from $190.00 to $153.00 in a research note on Wednesday, April 26th. Cowen and Company restated a “market perform” rating and issued a $157.00 target price on shares of Allegiant Travel Company in a research note on Tuesday, May 30th. Zacks Investment Research upgraded shares of Allegiant Travel Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Bank of America Corporation cut shares of Allegiant Travel Company from a “buy” rating to a “neutral” rating and cut their price target for the company from $205.00 to $175.00 in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $158.80.

Allegiant Travel Company (NASDAQ:ALGT) opened at 140.25 on Monday. Allegiant Travel Company has a 12 month low of $121.70 and a 12 month high of $182.25. The stock has a market cap of $2.30 billion, a PE ratio of 12.30 and a beta of -0.04. The firm has a 50-day moving average of $141.42 and a 200 day moving average of $158.54.

Allegiant Travel Company (NASDAQ:ALGT) last announced its earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share for the quarter, missing the consensus estimate of $2.58 by $0.08. The firm had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $374.99 million. Allegiant Travel Company had a net margin of 13.61% and a return on equity of 41.46%. Allegiant Travel Company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.29 earnings per share. Analysts anticipate that Allegiant Travel Company will post $9.63 EPS for the current year.

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In related news, SVP Gregory Clark Anderson sold 1,500 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total value of $213,120.00. Following the sale, the senior vice president now owns 15,054 shares of the company’s stock, valued at approximately $2,138,872.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.00% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Allegiant Travel Company by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after buying an additional 1,545,387 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Allegiant Travel Company by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock worth $96,377,000 after buying an additional 90,037 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Allegiant Travel Company by 36.3% in the first quarter. Schroder Investment Management Group now owns 274,416 shares of the transportation company’s stock worth $44,277,000 after buying an additional 73,047 shares in the last quarter. Norges Bank bought a new position in shares of Allegiant Travel Company during the fourth quarter worth about $11,706,000. Finally, Vanguard Group Inc. raised its position in shares of Allegiant Travel Company by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock worth $185,482,000 after buying an additional 51,487 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

About Allegiant Travel Company

Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.

Analyst Recommendations for Allegiant Travel Company (NASDAQ:ALGT)

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