Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $300.00


Allegiant Travel (NASDAQ:ALGT) had its target price hoisted by analysts at Morgan Stanley from $190.00 to $300.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective suggests a potential upside of 14.83{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} from the stock’s current price.

ALGT has been the subject of several other research reports. Cowen raised Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Monday, January 11th. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $250.00 in a report on Thursday, February 4th. Bank of America cut shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a research report on Friday, January 8th. Raymond James boosted their price target on shares of Allegiant Travel from $215.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 4th. Finally, Wolfe Research upgraded Allegiant Travel from an “underweight” rating to a “market weight” rating and boosted their target price for the stock from $200.00 to $238.00 in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $184.82.

ALGT traded up $17.18 on Monday, reaching $261.25. The company had a trading volume of 3,015 shares, compared to its average volume of 136,721. Allegiant Travel has a one year low of $60.06 and a one year high of $262.31. The company has a market capitalization of $4.29 billion, a P/E ratio of -42.98 and a beta of 1.71. The company has a fifty day moving average of $213.16 and a 200-day moving average of $165.03. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.99.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, February 2nd. The transportation company reported ($1.12) EPS for the quarter, topping the consensus estimate of ($2.44) by $1.32. Allegiant Travel had a negative net margin of 7.86{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} and a negative return on equity of 8.83{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be}. The company had revenue of $246.56 million during the quarter, compared to analysts’ expectations of $245.48 million. During the same period last year, the company posted $3.72 earnings per share. The business’s revenue for the quarter was down 46.5{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} on a year-over-year basis. Research analysts predict that Allegiant Travel will post -10.54 EPS for the current year.

In other news, COO Scott Sheldon sold 14,624 shares of the company’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $216.52, for a total transaction of $3,166,388.48. Also, Director Gary Ellmer sold 450 shares of the stock in a transaction on Friday, February 5th. The stock was sold at an average price of $220.10, for a total value of $99,045.00. Following the completion of the sale, the director now owns 1,715 shares in the company, valued at approximately $377,471.50. The disclosure for this sale can be found here. Insiders have sold a total of 18,397 shares of company stock worth $3,983,350 in the last three months. Insiders own 19.60{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. U S Global Investors Inc. grew its holdings in Allegiant Travel by 27.4{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} in the fourth quarter. U S Global Investors Inc. now owns 673,138 shares of the transportation company’s stock worth $127,385,000 after purchasing an additional 144,934 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Allegiant Travel by 804.6{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} during the third quarter. Great West Life Assurance Co. Can now owns 140,174 shares of the transportation company’s stock worth $625,000 after purchasing an additional 124,679 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $23,339,000. JPMorgan Chase & Co. lifted its position in Allegiant Travel by 278.4{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} during the fourth quarter. JPMorgan Chase & Co. now owns 160,768 shares of the transportation company’s stock valued at $30,423,000 after purchasing an additional 118,278 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Allegiant Travel by 310.0{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} during the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,122 shares of the transportation company’s stock valued at $14,784,000 after buying an additional 59,070 shares during the period. 86.10{540ccc4681f92a8237c705b0cdebbb9da373ec200da159e6cc1fd9f393be00be} of the stock is owned by institutional investors and hedge funds.

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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.

Featured Story: What does a neutral rating on stocks mean?

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)



Receive News & Ratings for Allegiant Travel Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Allegiant Travel and related companies with MarketBeat.com’s FREE daily email newsletter.