Allegiant Travel (NASDAQ:ALGT) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Allegiant Travel (NASDAQ:ALGT) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on ALGT. Bank of America raised Allegiant Travel from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $55.00 to $95.00 in a research report on Tuesday, January 6th. Barclays boosted their target price on Allegiant Travel from $60.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Susquehanna lifted their price target on shares of Allegiant Travel from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Wolfe Research raised Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research report on Tuesday, January 20th. Finally, UBS Group upped their price target on Allegiant Travel from $87.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.73.

Allegiant Travel Trading Up 1.9%

Shares of ALGT stock opened at $92.78 on Monday. Allegiant Travel has a twelve month low of $39.80 and a twelve month high of $100.88. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -5.69, a PEG ratio of 0.25 and a beta of 1.64. The company’s 50-day moving average price is $86.05 and its 200-day moving average price is $69.73. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.76.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, November 4th. The transportation company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of ($1.84) by ($0.25). Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The firm had revenue of $561.93 million during the quarter, compared to analyst estimates of $575.13 million. During the same quarter in the previous year, the firm earned ($2.02) earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares during the period. Signaturefd LLC raised its position in shares of Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after purchasing an additional 117 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after buying an additional 205 shares in the last quarter. NewEdge Advisors LLC increased its position in Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after purchasing an additional 373 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after buying an additional 609 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low?cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price?sensitive leisure travelers, Allegiant Air operates a point?to?point network that avoids the traditional hub?and?spoke model, providing non?stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.