Allegiant Travel Co. (NASDAQ:ALGT) had its price objective raised by Imperial Capital from $160.00 to $196.00 in a research note issued to investors on Tuesday morning. They currently have an outperform rating on the stock.
Other equities research analysts also recently issued reports about the company. Cowen and Company reduced their target price on Allegiant Travel from $165.00 to $147.00 and set a market perform rating for the company in a report on Monday, August 1st. Zacks Investment Research raised Allegiant Travel from a strong sell rating to a hold rating in a report on Tuesday, August 2nd. Stifel Nicolaus reduced their target price on Allegiant Travel from $200.00 to $155.00 and set a buy rating for the company in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $133.00 target price on Allegiant Travel and gave the company a hold rating in a report on Tuesday, September 13th. Finally, Buckingham Research raised Allegiant Travel from a neutral rating to a buy rating and set a $168.00 target price for the company in a report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Allegiant Travel presently has an average rating of Hold and an average target price of $176.83.
Shares of Allegiant Travel (NASDAQ:ALGT) opened at 169.30 on Tuesday. Allegiant Travel has a one year low of $121.70 and a one year high of $196.11. The stock’s 50 day moving average price is $150.66 and its 200-day moving average price is $141.77. The stock has a market cap of $2.77 billion, a PE ratio of 11.99 and a beta of -0.27.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $2.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.09. The business earned $33.50 million during the quarter, compared to analyst estimates of $84.35 million. Allegiant Travel had a return on equity of 60.20% and a net margin of 17.57%. The company’s revenue was down 88.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.62 earnings per share. On average, equities analysts predict that Allegiant Travel will post $13.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Wednesday, November 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.65%. The ex-dividend date is Monday, November 21st. Allegiant Travel’s payout ratio is currently 19.86%.
In other Allegiant Travel news, CFO Scott Sheldon sold 2,596 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $153.70, for a total value of $399,005.20. Following the transaction, the chief financial officer now directly owns 20,964 shares of the company’s stock, valued at approximately $3,222,166.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 21.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Adams Diversified Equity Fund Inc. bought a new position in shares of Allegiant Travel during the second quarter worth approximately $318,000. Parametrica Management Ltd bought a new position in shares of Allegiant Travel during the second quarter worth approximately $266,000. Laurel Grove Capital LLC raised its position in shares of Allegiant Travel by 278.4% in the second quarter. Laurel Grove Capital LLC now owns 14,380 shares of the company’s stock worth $2,179,000 after buying an additional 10,580 shares in the last quarter. RK Asset Management LLC raised its position in shares of Allegiant Travel by 1.6% in the second quarter. RK Asset Management LLC now owns 48,732 shares of the company’s stock worth $7,383,000 after buying an additional 771 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Allegiant Travel by 8.3% in the second quarter. Capstone Asset Management Co. now owns 4,760 shares of the company’s stock worth $721,000 after buying an additional 366 shares in the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.
Allegiant Travel Company Profile