Published On: Mon, Sep 12th, 2016

Cowen and Company Trims Allegiant Travel Co. (ALGT) Target Price to $147.00

Allegiant Travel Co. (NASDAQ:ALGT) had its price target lowered by research analysts at Cowen and Company from $165.00 to $147.00 in a note issued to investors on Monday. The firm presently has a “market perform” rating on the stock. Cowen and Company’s target price points to a potential upside of 3.43% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Allegiant Travel in a research note on Saturday, April 9th. Raymond James Financial Inc. upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Tuesday, June 14th. Credit Suisse Group AG reduced their price target on Allegiant Travel from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. Barclays PLC cut Allegiant Travel from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $205.00 to $188.00 in a research report on Friday, April 15th. Finally, Zacks Investment Research upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Allegiant Travel has an average rating of “Hold” and an average target price of $183.90.
Allegiant Travel (NASDAQ:ALGT) traded down 2.67% on Monday, hitting $142.13. The stock had a trading volume of 85,843 shares. The company has a market cap of $2.33 billion, a PE ratio of 10.12 and a beta of -0.07. The company has a 50-day moving average of $133.23 and a 200 day moving average of $151.44. Allegiant Travel has a 12 month low of $121.70 and a 12 month high of $228.79.

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Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.55 by $0.13. Allegiant Travel had a return on equity of 64.40% and a net margin of 17.94%. The firm earned $344.90 million during the quarter, compared to analysts’ expectations of $343.11 million. During the same period last year, the business posted $3.18 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Allegiant Travel will post $13.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Wednesday, August 17th. Allegiant Travel’s dividend payout ratio is presently 20.04%.
Several hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Allegiant Travel by 996.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 636 shares of the company’s stock worth $113,000 after buying an additional 578 shares in the last quarter. BlackRock Inc. raised its stake in shares of Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock worth $146,000 after buying an additional 502 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Allegiant Travel during the second quarter worth about $151,000. Parametrica Management Ltd purchased a new stake in shares of Allegiant Travel during the second quarter worth about $266,000. Finally, Parkwood LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth about $293,000. 79.53% of the stock is currently owned by hedge funds and other institutional investors.
About Allegiant Travel
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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.

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