Analysts Set Allegiant Travel (NASDAQ:ALGT) Price Target at $177.33

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Shares of Allegiant Travel (NASDAQ:ALGT) have been given a consensus rating of “Buy” by the fifteen analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $177.09.

ALGT has been the topic of a number of recent analyst reports. ValuEngine cut shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 10th. BidaskClub upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their target price on shares of Allegiant Travel from $152.00 to $164.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Cowen restated a “market perform” rating and set a $186.00 price target on shares of Allegiant Travel in a research report on Thursday, November 14th. Finally, Buckingham Research boosted their price target on shares of Allegiant Travel from $206.00 to $219.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th.

In other news, CEO Maurice J. Gallagher, Jr. sold 60,908 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $163.14, for a total transaction of $9,936,531.12. Following the completion of the sale, the chief executive officer now directly owns 2,847,476 shares of the company’s stock, valued at $464,537,234.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 14,092 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $169.81, for a total value of $2,392,962.52. Following the completion of the transaction, the chief executive officer now owns 2,847,476 shares of the company’s stock, valued at approximately $483,529,899.56. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC acquired a new position in shares of Allegiant Travel in the third quarter worth about $385,000. Panagora Asset Management Inc. boosted its stake in Allegiant Travel by 592.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,251 shares of the transportation company’s stock worth $323,000 after purchasing an additional 1,926 shares during the period. Northern Trust Corp boosted its stake in Allegiant Travel by 5.1% in the 2nd quarter. Northern Trust Corp now owns 185,116 shares of the transportation company’s stock worth $26,563,000 after purchasing an additional 9,041 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in Allegiant Travel during the 3rd quarter worth approximately $1,534,000. Finally, Synovus Financial Corp purchased a new position in Allegiant Travel during the 3rd quarter worth approximately $571,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Shares of Allegiant Travel stock opened at $171.19 on Friday. The business’s fifty day moving average price is $166.58 and its two-hundred day moving average price is $150.66. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market capitalization of $2.79 billion, a P/E ratio of 17.12, a PEG ratio of 0.44 and a beta of 0.91. Allegiant Travel has a 1-year low of $98.18 and a 1-year high of $174.92.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $2.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.49. Allegiant Travel had a return on equity of 28.76% and a net margin of 11.85%. The company had revenue of $436.51 million during the quarter, compared to analyst estimates of $429.44 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts expect that Allegiant Travel will post 14.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, November 21st. Allegiant Travel’s dividend payout ratio is presently 28.00%.

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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