ValuEngine Downgrades Allegiant Travel (NASDAQ:ALGT) to Sell

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ValuEngine lowered shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a sell rating in a research report released on Saturday morning, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of Allegiant Travel from a hold rating to a buy rating in a report on Tuesday, April 30th. Deutsche Bank set a $160.00 price objective on shares of Allegiant Travel and gave the stock a buy rating in a report on Friday, March 1st. Morgan Stanley cut their price objective on shares of Allegiant Travel from $140.00 to $132.00 and set an equal weight rating on the stock in a report on Monday, May 20th. Zacks Investment Research downgraded shares of Allegiant Travel from a buy rating to a hold rating in a report on Tuesday, April 2nd. Finally, Imperial Capital reaffirmed an outperform rating and set a $180.00 price objective (up from $162.00) on shares of Allegiant Travel in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Allegiant Travel currently has a consensus rating of Hold and a consensus target price of $153.54.

ALGT opened at $134.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.20 billion, a P/E ratio of 13.45 and a beta of 0.92. The business’s fifty day moving average price is $141.88. Allegiant Travel has a 1 year low of $98.18 and a 1 year high of $148.80.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $3.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.10. The firm had revenue of $451.60 million for 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 revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.42 EPS. As a group, sell-side analysts forecast that Allegiant Travel will post 13.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, June 13th. Allegiant Travel’s payout ratio is 28.00%.

In other news, CEO Maurice J. Gallagher, Jr. sold 4,222 shares of Allegiant Travel stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $148.17, for a total transaction of $625,573.74. Following the sale, the chief executive officer now directly owns 2,920,954 shares in the company, valued at approximately $432,797,754.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Paul Wilson III sold 1,823 shares of Allegiant Travel stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $141.28, for a total value of $257,553.44. Following the sale, the executive vice president now owns 19,300 shares in the company, valued at $2,726,704. The disclosure for this sale can be found here. Insiders have sold a total of 105,406 shares of company stock worth $15,564,673 over the last quarter. Company insiders own 20.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its stake in Allegiant Travel by 0.6% in the 4th quarter. Comerica Bank now owns 12,441 shares of the transportation company’s stock valued at $1,555,000 after acquiring an additional 76 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Allegiant Travel by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,943 shares of the transportation company’s stock valued at $640,000 after acquiring an additional 89 shares during the period. OppenheimerFunds Inc. raised its stake in Allegiant Travel by 1.3% in the 1st quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock valued at $908,000 after acquiring an additional 89 shares during the period. Piedmont Investment Advisors Inc. raised its stake in Allegiant Travel by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 3,040 shares of the transportation company’s stock valued at $305,000 after acquiring an additional 97 shares during the period. Finally, Bank of Montreal Can raised its stake in Allegiant Travel by 2.5% in the 1st quarter. Bank of Montreal Can now owns 3,990 shares of the transportation company’s stock valued at $516,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

About Allegiant Travel

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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