Allegiant Travel (NASDAQ:ALGT) Stock Rating Lowered by BidaskClub

Allegiant Travel (NASDAQ:ALGT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

ALGT has been the subject of a number of other research reports. Morgan Stanley upped their price objective on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. Macquarie set a $6.00 price objective on Cheetah Mobile and gave the stock a “sell” rating in a research report on Tuesday, March 26th. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $78.00 price objective (down from $83.00) on shares of Spirit Airlines in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $160.42.

Allegiant Travel stock traded down $0.51 during trading hours on Wednesday, hitting $147.34. 181,364 shares of the stock were exchanged, compared to its average volume of 158,688. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $152.00. The stock has a 50-day moving average of $142.59. The stock has a market capitalization of $2.42 billion, a PE ratio of 14.73 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.63.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.10. The firm had revenue of $451.60 million during the quarter, compared to the consensus estimate of $452.24 million. Allegiant Travel had a net margin of 9.67% and a return on equity of 25.13%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.42 earnings per share. As a group, sell-side analysts expect that Allegiant Travel will post 13.59 EPS for the current year.

In other news, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $147.77, for a total transaction of $7,081,138.40. Following the completion of the transaction, the chief executive officer now directly owns 2,929,920 shares of the company’s stock, valued at approximately $432,954,278.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $147.75, for a total value of $7,600,407.75. Following the completion of the sale, the chief executive officer now owns 2,929,920 shares in the company, valued at approximately $432,895,680. The disclosure for this sale can be found here. Insiders sold a total of 135,453 shares of company stock worth $20,073,966 in the last quarter. Company insiders own 20.90% of the company’s stock.

A number of large investors have recently made changes to their positions in ALGT. BlackRock Inc. grew its position in Allegiant Travel by 0.5% during the 4th quarter. BlackRock Inc. now owns 1,827,451 shares of the transportation company’s stock worth $183,146,000 after purchasing an additional 9,863 shares in the last quarter. Wasatch Advisors Inc. raised its position in shares of Allegiant Travel by 19.7% in the 1st quarter. Wasatch Advisors Inc. now owns 640,318 shares of the transportation company’s stock worth $82,902,000 after buying an additional 105,173 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Allegiant Travel by 14.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 597,208 shares of the transportation company’s stock worth $59,852,000 after buying an additional 76,703 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Allegiant Travel by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 465,922 shares of the transportation company’s stock worth $46,695,000 after buying an additional 20,082 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Allegiant Travel by 0.7% in the 1st quarter. Janus Henderson Group PLC now owns 273,443 shares of the transportation company’s stock worth $35,403,000 after buying an additional 1,904 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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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