Allegiant Travel (NASDAQ:ALGT – Get Rating) had its price objective decreased by equities researchers at Morgan Stanley from $250.00 to $237.00 in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective suggests a potential upside of 109.81% from the company’s previous close.
A number of other analysts also recently weighed in on ALGT. Evercore ISI reduced their price objective on Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating on the stock in a research note on Monday, June 27th. StockNews.com initiated coverage on Allegiant Travel in a report on Thursday, March 31st. They issued a “hold” rating on the company. Finally, Barclays decreased their target price on Allegiant Travel from $275.00 to $220.00 in a research note on Thursday, April 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Moderate Buy” and an average target price of $224.90, according to MarketBeat.com.
Shares of NASDAQ:ALGT opened at $112.96 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of 14.45 and a beta of 1.55. The company has a quick ratio of 1.55, a current ratio of 1.59, and a debt-to-equity ratio of 1.34. Allegiant Travel has a 52-week low of $109.82 and a 52-week high of $215.48. The business has a fifty day moving average of $134.20 and a two hundred day moving average of $156.19.
Allegiant Travel (NASDAQ:ALGT – Get Rating ) last announced its earnings results on Wednesday, May 4th. The transportation company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.22). The firm had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $495.33 million. Allegiant Travel had a net margin of 7.11% and a return on equity of 7.66%. Business revenue increased by 79.2% compared to the same quarter last year. During the same quarter last year, the business earned ($3.58) earnings per share. On average, equities analysts predict that Allegiant Travel will post 3.51 earnings per share for the current year.
In related news, CMO Scott Wayne Deangelo sold 500 shares of Allegiant Travel stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total transaction of $56,445.00. Following the sale, the chief marketing officer now directly owns 8,035 shares of the company’s stock, valued at $907,071.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert Paul Wilson III sold 900 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $150.14, for a total transaction of $135,126.00. Following the transaction, the executive vice president now owns 14,963 shares of the company’s stock, valued at approximately $2,246,544.82. Disclosure for this sale can be found here. 16.70% of the shares are currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP purchased a new stake in Allegiant Travel during the third quarter valued at $352,000. Captrust Financial Advisors raised its stake in Allegiant Travel by 58.6% in the third quarter. Captrust Financial Advisors now owns 314 shares of the transportation company’s stock worth $61,000 after purchasing an additional 116 shares during the period. Crossmark Global Holdings Inc. raised its stake in Allegiant Travel by 24.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,358 shares of the transportation company’s stock worth $254,000 after buying an additional 270 shares during the period. Louisiana State Employees Retirement System raised its position in Allegiant Travel by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the transportation company’s stock valued at $1,384,000 after purchasing an additional 100 shares in the last quarter. Finally, Salvus Wealth Management LLC lifted its position in Allegiant Travel by 3.7% during the 4th quarter. Salvus Wealth Management LLC now owns 2,892 shares of the transportation company’s stock valued at $541,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 98.49% of the company’s shares.
Allegiant Travel Company Profile (Get rating)
Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of underserved cities in the United States. The company offers scheduled air transportation with limited frequencies, non-stop flights between underserved cities and leisure destinations. As of 14 February 2022, it operated a fleet of 110 Airbus A320 series aircraft.
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