Allegiant Travel (NASDAQ:ALGT) PT Lowered to $270.00 at Morgan Stanley

Allegiant Travel (NASDAQ:ALGT) had its price objective decreased by Morgan Stanley from $280.00 to $270.00 in a report published on Tuesday morning, Analyst Price Targets reports. Morgan Stanley currently has an overweight rating on the transportation company’s stock.

A number of other research firms also recently commented on ALGT. Wolfe Research downgraded Allegiant Travel from an outperform rating to a peer perform rating in a report on Wednesday, October 6th. They noted that the move was a valuation call. The Goldman Sachs Group upgraded Allegiant Travel from a neutral rating to a buy rating and boosted their price target for the stock from $245.00 to $250.00 in a research report on Tuesday, November 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Allegiant Travel from $285.00 to $275.00 and set a buy rating on the stock in a research note on Tuesday, October 12th. Susquehanna Bancshares lowered their price objective on Allegiant Travel from $255.00 to $240.00 and set a positive rating on the stock in a research note on Friday, October 29th. Finally, Susquehanna decreased their price target on Allegiant Travel from $255.00 to $240.00 and set a positive rating on the stock in a research note on Friday, October 29th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of Buy and a consensus price target of $240.00.

Shares of NASDAQ ALGT opened at $186.10 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.87 and a current ratio of 1.91. The company has a market cap of $3.37 billion, a PE ratio of 29.54 and a beta of 1.61. The business has a 50-day simple moving average of $184.02 and a two-hundred day simple moving average of $188.51. Allegiant Travel has a fifty-two week low of $163.60 and a fifty-two week high of $271.29.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, October 26th. The transportation company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Allegiant Travel had a negative return on equity of 0.35% and a net margin of 7.71%. The business had revenue of $459.47 million during the quarter, compared to the consensus estimate of $451.35 million. During the same quarter last year, the company earned ($4.28) earnings per share. The company’s quarterly revenue was up 128.6% on a year-over-year basis. On average, sell-side analysts predict that Allegiant Travel will post 1.83 earnings per share for the current fiscal year.

In related news, insider Rebecca Aretos sold 182 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $182.45, for a total transaction of $33,205.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ALGT. Amundi Pioneer Asset Management Inc. acquired a new stake in Allegiant Travel during the 1st quarter worth approximately $155,000. Victory Capital Management Inc. lifted its position in Allegiant Travel by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,128 shares of the transportation company’s stock worth $413,000 after acquiring an additional 154 shares during the period. Envestnet Asset Management Inc. lifted its position in Allegiant Travel by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,180 shares of the transportation company’s stock worth $1,005,000 after acquiring an additional 343 shares during the period. American Century Companies Inc. lifted its position in Allegiant Travel by 28.3% during the 2nd quarter. American Century Companies Inc. now owns 1,820 shares of the transportation company’s stock worth $353,000 after acquiring an additional 401 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in Allegiant Travel by 18.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 2,072 shares of the transportation company’s stock worth $402,000 after acquiring an additional 319 shares during the period. 85.51% of the stock is owned by institutional investors.

About Allegiant Travel

Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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