Allegiant Travel (NASDAQ:ALGT) Downgraded by BidaskClub

Allegiant Travel (NASDAQ:ALGT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday, BidAskClub reports.

ALGT has been the subject of several other reports. Zacks Investment Research lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating and set a $116.00 price target for the company. in a report on Tuesday, June 23rd. Barclays lifted their target price on Allegiant Travel from $73.00 to $100.00 in a research note on Friday, September 18th. Goldman Sachs Group cut Allegiant Travel from a “buy” rating to a “neutral” rating and increased their price target for the stock from $133.00 to $142.00 in a research report on Sunday, June 28th. ValuEngine raised Allegiant Travel from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Finally, Deutsche Bank upped their price objective on Allegiant Travel from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $145.46.

Shares of ALGT opened at $119.65 on Friday. Allegiant Travel has a 52 week low of $60.06 and a 52 week high of $183.26. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -79.24 and a beta of 1.54. The stock has a 50 day moving average of $127.30 and a 200-day moving average of $104.37.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported ($5.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.53) by ($1.43). Allegiant Travel had a positive return on equity of 5.22% and a negative net margin of 1.54%. The firm had revenue of $133.30 million for the quarter, compared to the consensus estimate of $118.13 million. During the same quarter last year, the business earned $4.33 earnings per share. The business’s revenue for the quarter was down 72.9% compared to the same quarter last year. On average, sell-side analysts predict that Allegiant Travel will post -10.11 earnings per share for the current fiscal year.

In related news, EVP Robert Paul Wilson III sold 1,076 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $114.42, for a total transaction of $123,115.92. Following the transaction, the executive vice president now directly owns 7,331 shares of the company’s stock, valued at $838,813.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 100,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $133.41, for a total transaction of $13,341,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,431,150 shares in the company, valued at $324,339,721.50. The disclosure for this sale can be found here. Insiders sold a total of 190,870 shares of company stock valued at $24,208,483 in the last ninety days. Company insiders own 19.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc bought a new position in shares of Allegiant Travel in the 2nd quarter valued at about $39,000. Public Employees Retirement Association of Colorado raised its position in shares of Allegiant Travel by 152.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 573 shares of the transportation company’s stock valued at $47,000 after buying an additional 346 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Allegiant Travel by 207.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 741 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 500 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Allegiant Travel during the 1st quarter worth $155,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Allegiant Travel in the 1st quarter valued at approximately $214,000. Institutional investors and hedge funds own 84.55% 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.