Allegiant Travel Company’s (ALGT) “Hold” Rating Reiterated at Stifel Nicolaus

Allegiant Travel Company’s (ALGT) “Hold” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus restated their hold rating on shares of Allegiant Travel Company (NASDAQ:ALGT) in a research report report published on Wednesday morning. They currently have a $173.00 price target on the transportation company’s stock.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Allegiant Travel Company from a hold rating to a strong sell rating in a research note on Tuesday, December 20th. Cowen and Company upped their price objective on shares of Allegiant Travel Company from $160.00 to $162.00 and gave the company a market perform rating in a research note on Wednesday, February 1st. Finally, Imperial Capital dropped their price objective on shares of Allegiant Travel Company from $182.00 to $170.00 and set an in-line rating on the stock in a research note on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $168.25.

Allegiant Travel Company (NASDAQ:ALGT) traded up 1.67% during midday trading on Wednesday, hitting $164.85. 4,086 shares of the stock traded hands. Allegiant Travel Company has a 1-year low of $121.70 and a 1-year high of $182.25. The company has a 50-day moving average of $159.33 and a 200-day moving average of $162.01. The stock has a market cap of $2.70 billion, a PE ratio of 12.48 and a beta of -0.20.

Allegiant Travel Company (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, January 31st. The transportation company reported $2.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.08. The firm had revenue of $335.90 million for the quarter, compared to analyst estimates of $333.25 million. Allegiant Travel Company had a net margin of 16.11% and a return on equity of 54.38%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.38 EPS. On average, equities analysts expect that Allegiant Travel Company will post $10.43 EPS for the current fiscal year.

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In other Allegiant Travel Company news, EVP Jude Bricker sold 4,421 shares of the stock in a transaction on Friday, March 17th. The shares were sold at an average price of $158.67, for a total value of $701,480.07. Following the completion of the sale, the executive vice president now directly owns 21,569 shares of the company’s stock, valued at approximately $3,422,353.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary Ellmer sold 580 shares of the stock in a transaction on Friday, March 24th. The shares were sold at an average price of $162.00, for a total transaction of $93,960.00. Following the completion of the sale, the director now directly owns 2,255 shares of the company’s stock, valued at $365,310. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ALGT. Rhumbline Advisers raised its stake in shares of Allegiant Travel Company by 4.4% in the third quarter. Rhumbline Advisers now owns 20,766 shares of the transportation company’s stock worth $2,743,000 after buying an additional 880 shares in the last quarter. FMR LLC increased its position in Allegiant Travel Company by 3.7% in the fourth quarter. FMR LLC now owns 926,540 shares of the transportation company’s stock valued at $154,177,000 after buying an additional 33,400 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Allegiant Travel Company by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 313,768 shares of the transportation company’s stock valued at $41,439,000 after buying an additional 2,586 shares during the last quarter. Muhlenkamp & Co. Inc. increased its position in Allegiant Travel Company by 0.8% in the third quarter. Muhlenkamp & Co. Inc. now owns 34,258 shares of the transportation company’s stock valued at $4,524,000 after buying an additional 257 shares during the last quarter. Finally, Comerica Bank increased its position in Allegiant Travel Company by 4.0% in the fourth quarter. Comerica Bank now owns 18,436 shares of the transportation company’s stock valued at $3,277,000 after buying an additional 709 shares during the last quarter. 79.27% of the stock is owned by hedge funds and other institutional investors.

About Allegiant Travel Company

Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.

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