Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $150.00

Allegiant Travel (NASDAQ:ALGT) had its target price upped by Morgan Stanley from $132.00 to $150.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price target would indicate a potential upside of 5.60% from the company’s previous close.

Several other research analysts have also commented on the stock. ValuEngine lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup lifted their price target on shares of Allegiant Travel from $180.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Sidoti lifted their price target on shares of Allegiant Travel from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Imperial Capital reaffirmed an “outperform” rating and issued a $180.00 price target (up from $162.00) on shares of Allegiant Travel in a report on Friday, April 26th. Finally, Buckingham Research lifted their price target on shares of Allegiant Travel from $186.00 to $191.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Allegiant Travel has an average rating of “Buy” and a consensus price target of $164.00.

ALGT stock traded down $0.60 during mid-day trading on Wednesday, hitting $142.05. 1,033 shares of the company were exchanged, compared to its average volume of 165,630. The firm has a market cap of $2.38 billion, a P/E ratio of 14.21 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.29 and a quick ratio of 1.24. Allegiant Travel has a twelve month low of $98.18 and a twelve month high of $157.50. The stock’s fifty day moving average is $146.23.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $4.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.67 by ($0.34). The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $504.81 million. Allegiant Travel had a return on equity of 26.59% and a net margin of 10.54%. Allegiant Travel’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.10 earnings per share. On average, equities research analysts expect that Allegiant Travel will post 13.68 EPS for the current year.

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $145.10, for a total transaction of $145,100.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $290,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 40,731 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $154.40, for a total transaction of $6,288,866.40. Following the transaction, the chief executive officer now directly owns 2,889,421 shares of the company’s stock, valued at $446,126,602.40. The disclosure for this sale can be found here. Insiders have sold a total of 77,000 shares of company stock valued at $11,713,663 over the last three months. 20.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan boosted its stake in Allegiant Travel by 1.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,850 shares of the transportation company’s stock valued at $552,000 after purchasing an additional 70 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Allegiant Travel by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,943 shares of the transportation company’s stock valued at $640,000 after purchasing an additional 89 shares during the period. OppenheimerFunds Inc. boosted its stake in Allegiant Travel by 1.3% during the 1st quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock valued at $908,000 after purchasing an additional 89 shares during the period. Bank of Montreal Can boosted its stake in Allegiant Travel by 2.5% during the 1st quarter. Bank of Montreal Can now owns 3,990 shares of the transportation company’s stock valued at $516,000 after purchasing an additional 98 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Allegiant Travel by 2.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,031 shares of the transportation company’s stock valued at $651,000 after purchasing an additional 110 shares during the period. 79.32% of the stock is owned by hedge funds and other 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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