Allegiant Travel (NASDAQ:ALGT) PT Raised to $182.00 at Citigroup

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by investment analysts at Citigroup from $180.00 to $182.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup‘s target price indicates a potential upside of 25.95% from the stock’s current price.

Several other research firms also recently commented on ALGT. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. ValuEngine downgraded shares of WideOpenWest from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Macquarie set a $6.00 target price on shares of Cheetah Mobile and gave the stock a “sell” rating in a research report on Tuesday, March 26th. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Finally, Morgan Stanley increased their target price on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $154.69.

Shares of NASDAQ:ALGT traded down $1.10 during midday trading on Tuesday, hitting $144.50. 41,505 shares of the stock were exchanged, compared to its average volume of 159,148. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.63. Allegiant Travel has a 52-week low of $98.18 and a 52-week high of $148.80. The stock’s fifty day moving average is $141.83. The company has a market cap of $2.35 billion, a P/E ratio of 14.45 and a beta of 0.89.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $3.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.10. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. The business had revenue of $451.60 million during the quarter, compared to analyst estimates of $452.24 million. During the same period last year, the company earned $3.42 earnings per share. Allegiant Travel’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Allegiant Travel will post 13.37 EPS for the current fiscal year.

In other news, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $147.75, for a total value of $7,600,407.75. Following the sale, the chief executive officer now directly owns 2,929,920 shares of the company’s stock, valued at $432,895,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $147.77, for a total value of $7,081,138.40. Following the completion of the sale, the chief executive officer now directly owns 2,929,920 shares in the company, valued at $432,954,278.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,406 shares of company stock worth $15,564,673. 20.90% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in Allegiant Travel by 0.5% during the fourth quarter. BlackRock Inc. now owns 1,827,451 shares of the transportation company’s stock worth $183,146,000 after buying an additional 9,863 shares in the last quarter. Wasatch Advisors Inc. grew its position in 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Allegiant Travel by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 465,922 shares of the transportation company’s stock worth $46,695,000 after buying an additional 20,082 shares in the last quarter. Janus Henderson Group PLC grew its position in Allegiant Travel by 0.7% during the first quarter. Janus Henderson Group PLC now owns 273,443 shares of the transportation company’s stock worth $35,403,000 after buying an additional 1,904 shares in the last quarter. Finally, Royce & Associates LP grew its position in Allegiant Travel by 38.4% during the first quarter. Royce & Associates LP now owns 152,193 shares of the transportation company’s stock worth $19,704,000 after buying an additional 42,252 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Allegiant Travel Company Profile

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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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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