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

Allegiant Travel (NASDAQ:ALGT) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

ALGT has been the subject of a number of other reports. Citigroup cut their price target on Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. Evercore increased their price objective on Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Friday, December 12th. Wolfe Research upgraded shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.91.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $82.83 on Wednesday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -32.23, a P/E/G ratio of 0.21 and a beta of 1.63. Allegiant Travel has a 1 year low of $39.80 and a 1 year high of $118.00. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. The business has a fifty day simple moving average of $92.49 and a 200 day simple moving average of $80.12.

Insider Activity

In other news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total transaction of $98,154.00. Following the transaction, the chairman owned 150,000 shares of the company’s stock, valued at approximately $17,100,000. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 300,000 shares of company stock worth $34,350,512. Corporate insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its holdings in Allegiant Travel by 442.0% during the third quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 442 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Allegiant Travel by 27.3% in the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after buying an additional 117 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Allegiant Travel by 28.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after buying an additional 205 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of 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 buying an additional 373 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Allegiant Travel by 119.2% during the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after buying an additional 609 shares during the period. Institutional investors 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.