Bank of America upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat reports. They currently have $145.00 price objective on the transportation company’s stock.
A number of other equities research analysts have also recently commented on ALGT. ValuEngine cut Allegiant Travel from a buy rating to a hold rating in a research note on Wednesday, January 3rd. BidaskClub lowered Allegiant Travel from a buy rating to a hold rating in a report on Tuesday. Citigroup reduced their target price on Allegiant Travel from $175.00 to $168.00 and set a buy rating on the stock in a report on Tuesday, September 26th. Cowen reiterated a hold rating and set a $145.00 target price on shares of Allegiant Travel in a report on Tuesday, October 17th. Finally, Raymond James Financial reiterated a hold rating on shares of Allegiant Travel in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Allegiant Travel currently has a consensus rating of Hold and an average price target of $152.55.
Shares of Allegiant Travel (NASDAQ ALGT) traded up $4.00 during trading on Tuesday, hitting $154.85. The company had a trading volume of 97,520 shares, compared to its average volume of 125,329. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78. Allegiant Travel has a twelve month low of $111.54 and a twelve month high of $182.25. The firm has a market capitalization of $2,490.00, a PE ratio of 16.47 and a beta of 0.16.
In other news, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of the business’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $155.82, for a total value of $2,495,924.76. Following the sale, the chief executive officer now directly owns 3,144,674 shares in the company, valued at $490,003,102.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $155.74, for a total value of $2,774,975.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,708 shares of company stock worth $6,227,913. Corporate insiders own 22.00% of the company’s stock.
Several institutional investors have recently modified their holdings of ALGT. Schwab Charles Investment Management Inc. lifted its holdings in shares of Allegiant Travel by 8.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 79,170 shares of the transportation company’s stock valued at $10,736,000 after purchasing an additional 5,991 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Allegiant Travel in the second quarter valued at about $339,000. Legal & General Group Plc lifted its holdings in shares of Allegiant Travel by 10.7% in the second quarter. Legal & General Group Plc now owns 24,431 shares of the transportation company’s stock valued at $3,315,000 after purchasing an additional 2,363 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 127 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its holdings in shares of Allegiant Travel by 23.7% in the second quarter. Capital Fund Management S.A. now owns 36,344 shares of the transportation company’s stock valued at $4,928,000 after purchasing an additional 6,952 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.themarketsdaily.com/2018/01/11/allegiant-travel-algt-lifted-to-buy-at-bank-of-america.html.
About Allegiant Travel
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.
Receive News & Ratings for Allegiant Travel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel and related companies with MarketBeat.com's FREE daily email newsletter.