Published On: Fri, Sep 23rd, 2016

Allegiant Travel Co. (ALGT) Upgraded by Buckingham Research to Buy

Allegiant Travel Co. (NASDAQ:ALGT) was upgraded by investment analysts at Buckingham Research to a “buy” rating in a research note issued to investors on Friday.
Several other brokerages have also recently issued reports on ALGT. Zacks Investment Research raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Credit Suisse Group AG set a $133.00 price objective on shares of Allegiant Travel and gave the company a “hold” rating in a research note on Tuesday, September 13th. Cowen and Company decreased their target price on shares of Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating on the stock in a report on Monday, August 1st. Stifel Nicolaus decreased their target price on shares of Allegiant Travel from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Raymond James Financial Inc. upgraded shares of Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Tuesday, June 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $180.30.
Allegiant Travel (NASDAQ:ALGT) opened at 127.87 on Friday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.11 and a beta of -0.07. Allegiant Travel has a 12 month low of $121.70 and a 12 month high of $228.79. The stock’s 50 day moving average is $133.19 and its 200-day moving average is $149.21.

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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, beating the consensus estimate of $3.55 by $0.13. Allegiant Travel had a net margin of 17.94% and a return on equity of 64.40%. The company earned $344.90 million during the quarter, compared to analysts’ expectations of $343.11 million. During the same quarter in the prior year, the company earned $3.18 EPS. Allegiant Travel’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Allegiant Travel will post $13.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, August 17th. Allegiant Travel’s payout ratio is currently 20.04%.
A number of large investors have recently made changes to their positions in ALGT. Nisa Investment Advisors L.L.C. increased its stake in shares of Allegiant Travel by 4.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,600 shares of the company’s stock valued at $2,956,000 after buying an additional 750 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Allegiant Travel by 1.8% in the first quarter. Teachers Advisors Inc. now owns 19,743 shares of the company’s stock valued at $3,515,000 after buying an additional 358 shares during the last quarter. Cabot Wealth Management Inc. increased its stake in shares of Allegiant Travel by 1.3% in the first quarter. Cabot Wealth Management Inc. now owns 21,843 shares of the company’s stock valued at $3,889,000 after buying an additional 276 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Allegiant Travel by 6.0% in the first quarter. Prudential Financial Inc. now owns 45,530 shares of the company’s stock valued at $8,107,000 after buying an additional 2,594 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Allegiant Travel by 1.1% in the first quarter. Franklin Resources Inc. now owns 721,769 shares of the company’s stock valued at $128,520,000 after buying an additional 7,631 shares during the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.
Allegiant Travel Company Profile
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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