Allegiant Travel (ALGT) Rating Lowered to Peer Perform at Wolfe Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Friday, Marketbeat Ratings reports.

A number of other research firms have also weighed in on ALGT. Morgan Stanley dropped their price target on shares of Allegiant Travel from $164.00 to $156.00 and set an “equal weight” rating for the company in a research report on Thursday, July 12th. ValuEngine lowered shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Barclays dropped their price target on shares of Allegiant Travel from $135.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, July 16th. BidaskClub upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Imperial Capital dropped their price target on shares of Allegiant Travel from $165.00 to $121.00 and set an “inline” rating for the company in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $152.36.

Shares of ALGT stock opened at $122.75 on Friday. Allegiant Travel has a 12 month low of $117.30 and a 12 month high of $181.45. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.48 and a beta of 0.16. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.87 and a quick ratio of 0.83.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 25th. The transportation company reported $3.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.44. Allegiant Travel had a net margin of 13.21% and a return on equity of 30.22%. The business had revenue of $436.80 million during the quarter, compared to analysts’ expectations of $437.69 million. During the same period in the prior year, the company earned $2.94 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. research analysts predict that Allegiant Travel will post 9.65 earnings per share for the current year.

In related news, EVP Robert Paul Wilson III sold 380 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $135.01, for a total transaction of $51,303.80. Following the completion of the transaction, the executive vice president now owns 17,816 shares in the company, valued at $2,405,338.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 20.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of Allegiant Travel by 2.4% during the second quarter. Rhumbline Advisers now owns 32,204 shares of the transportation company’s stock worth $4,475,000 after acquiring an additional 745 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Allegiant Travel by 5.1% during the second quarter. Janus Henderson Group PLC now owns 288,054 shares of the transportation company’s stock worth $40,025,000 after acquiring an additional 14,023 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Allegiant Travel by 38.1% during the first quarter. Prudential Financial Inc. now owns 34,629 shares of the transportation company’s stock worth $5,975,000 after acquiring an additional 9,550 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Allegiant Travel by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 217,109 shares of the transportation company’s stock worth $30,167,000 after acquiring an additional 1,016 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Allegiant Travel by 7.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 95,610 shares of the transportation company’s stock worth $16,498,000 after acquiring an additional 6,890 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.

Featured Story: What is Compound Annual Growth Rate (CAGR)?

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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.

Leave a Reply