Brokerages Set Allegiant Air (ALGT) Price Target at $163.30

Shares of Allegiant Air (NASDAQ:ALGT) have been assigned a consensus rating of “Hold” from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $163.30.

Several research analysts have recently issued reports on ALGT shares. Zacks Investment Research raised Allegiant Air from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research report on Tuesday, February 6th. Morgan Stanley restated an “equal weight” rating and issued a $172.00 price target (up previously from $157.00) on shares of Allegiant Air in a research note on Friday, February 23rd. BidaskClub downgraded Allegiant Air from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Stifel Nicolaus upped their price target on Allegiant Air from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Wolfe Research upgraded Allegiant Air from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 1st.

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In related news, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of Allegiant Air stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $167.18, for a total transaction of $30,457,186.76. Following the sale, the chief executive officer now directly owns 3,071,196 shares in the company, valued at approximately $513,442,547.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory Clark Anderson sold 1,650 shares of Allegiant Air stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $178.25, for a total transaction of $294,112.50. Following the sale, the senior vice president now owns 15,935 shares in the company, valued at $2,840,413.75. The disclosure for this sale can be found here. Insiders sold a total of 302,111 shares of company stock worth $49,975,376 over the last 90 days. Company insiders own 22.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in Allegiant Air by 154.9% during the 3rd quarter. SG Americas Securities LLC now owns 6,371 shares of the transportation company’s stock worth $839,000 after acquiring an additional 3,872 shares in the last quarter. Victory Capital Management Inc. raised its stake in Allegiant Air by 517.5% during the 3rd quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock worth $694,000 after acquiring an additional 4,414 shares in the last quarter. Schroder Investment Management Group raised its stake in Allegiant Air by 7.7% during the 3rd quarter. Schroder Investment Management Group now owns 269,275 shares of the transportation company’s stock worth $35,989,000 after acquiring an additional 19,303 shares in the last quarter. RK Asset Management LLC raised its stake in Allegiant Air by 1.8% during the 4th quarter. RK Asset Management LLC now owns 43,982 shares of the transportation company’s stock worth $6,806,000 after acquiring an additional 767 shares in the last quarter. Finally, Midas Management Corp raised its stake in Allegiant Air by 29.8% during the 4th quarter. Midas Management Corp now owns 20,100 shares of the transportation company’s stock worth $3,111,000 after acquiring an additional 4,618 shares in the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.

ALGT stock traded down $0.25 on Wednesday, hitting $166.45. The stock had a trading volume of 30,428 shares, compared to its average volume of 152,772. Allegiant Air has a 1 year low of $111.54 and a 1 year high of $181.45. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.98 and a quick ratio of 0.95. The stock has a market cap of $2,678.31, a PE ratio of 17.47, a P/E/G ratio of 0.52 and a beta of 0.14.

Allegiant Air (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.93. Allegiant Air had a return on equity of 31.47% and a net margin of 12.96%. The firm had revenue of $378.56 million during the quarter, compared to analysts’ expectations of $377.25 million. During the same period in the prior year, the business earned $2.48 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts expect that Allegiant Air will post 10.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.68%. Allegiant Air’s payout ratio is 23.41%.

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Allegiant Air Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.

Analyst Recommendations for Allegiant Air (NASDAQ:ALGT)

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