Allegiant Travel (NASDAQ:ALGT – Get Rating) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Thursday, The Fly reports. The firm presently has a $145.00 price objective on the transportation company’s stock, up from their previous price objective of $110.00. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 26.32% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. TheStreet upgraded Allegiant Travel from a “d+” rating to a “c-” rating in a research report on Monday, April 24th. StockNews.com began coverage on Allegiant Travel in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Barclays lowered shares of Allegiant Travel from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $96.00 to $105.00 in a report on Friday, March 10th. Bank of America downgraded shares of Allegiant Travel from a “neutral” rating to an “underperform” rating in a report on Monday, May 1st. Finally, Raymond James upped their price target on shares of Allegiant Travel from $118.00 to $123.00 in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $109.42.
Allegiant Travel Price Performance
NASDAQ ALGT opened at $114.79 on Thursday. The company has a 50-day moving average price of $101.19 and a 200-day moving average price of $90.49. Allegiant Travel has a 52 week low of $62.94 and a 52 week high of $125.47. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $2.12 billion, a P/E ratio of 31.71 and a beta of 1.62.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last announced its earnings results on Wednesday, May 3rd. The transportation company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.75. Allegiant Travel had a net margin of 2.71% and a return on equity of 9.23%. The company had revenue of $649.70 million during the quarter, compared to analyst estimates of $627.89 million. During the same period in the previous year, the business posted ($0.12) earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities research analysts anticipate that Allegiant Travel will post 9.14 earnings per share for the current year.
Insider Activity
In related news, CMO Scott Wayne Deangelo sold 707 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $98.31, for a total transaction of $69,505.17. Following the completion of the transaction, the chief marketing officer now directly owns 97,552 shares of the company’s stock, valued at $9,590,337.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Robert Paul Wilson III sold 1,080 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $107.58, for a total value of $116,186.40. Following the sale, the executive vice president now directly owns 88,458 shares in the company, valued at approximately $9,516,311.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Scott Wayne Deangelo sold 707 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $98.31, for a total transaction of $69,505.17. Following the completion of the transaction, the chief marketing officer now directly owns 97,552 shares of the company’s stock, valued at approximately $9,590,337.12. The disclosure for this sale can be found here. Insiders sold a total of 2,787 shares of company stock worth $286,362 over the last 90 days. Corporate insiders own 17.50% of the company’s stock.
Institutional Investors Weigh In On Allegiant Travel
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Allegiant Travel by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company’s stock valued at $382,578,000 after purchasing an additional 8,810 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Allegiant Travel by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,675,544 shares of the transportation company’s stock valued at $122,281,000 after acquiring an additional 20,482 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Allegiant Travel by 20.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,590,165 shares of the transportation company’s stock worth $108,116,000 after acquiring an additional 271,378 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Allegiant Travel by 220.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock worth $150,485,000 after purchasing an additional 915,511 shares during the period. Finally, U S Global Investors Inc. grew its holdings in Allegiant Travel by 26.5% during the 4th quarter. U S Global Investors Inc. now owns 849,473 shares of the transportation company’s stock valued at $57,756,000 after purchasing an additional 178,000 shares during the last quarter. 85.77% of the stock is currently owned by hedge funds and other institutional investors.
About Allegiant Travel
Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.