Deutsche Bank Aktiengesellschaft Lowers Allegiant Travel (NASDAQ:ALGT) to Hold

Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel (NASDAQ:ALGTFree Report) from a buy rating to a hold rating in a research note published on Monday, MarketBeat.com reports. Deutsche Bank Aktiengesellschaft currently has $53.00 price target on the transportation company’s stock, down from their prior price target of $75.00.

Several other research analysts have also recently issued reports on the company. Barclays dropped their target price on Allegiant Travel from $60.00 to $55.00 and set an equal weight rating on the stock in a research report on Thursday, May 9th. UBS Group began coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a sell rating and a $58.00 price objective on the stock. TD Cowen lowered their price objective on Allegiant Travel from $65.00 to $60.00 and set a hold rating on the stock in a research report on Wednesday, May 15th. Finally, Susquehanna lowered their price objective on Allegiant Travel from $76.00 to $65.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel presently has an average rating of Hold and an average target price of $73.50.

Get Our Latest Analysis on Allegiant Travel

Allegiant Travel Trading Up 4.9 %

Shares of NASDAQ:ALGT opened at $47.31 on Monday. The stock has a market capitalization of $862.46 million, a price-to-earnings ratio of 14.97, a PEG ratio of 1.22 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. The stock’s 50-day simple moving average is $51.76 and its two-hundred day simple moving average is $65.52. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $130.93.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last announced its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $656.70 million for the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. Analysts expect that Allegiant Travel will post 3.62 EPS for the current year.

Allegiant Travel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 5.07%. Allegiant Travel’s dividend payout ratio is presently 75.95%.

Insider Buying and Selling

In related news, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the sale, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the completion of the sale, the executive vice president now directly owns 74,948 shares in the company, valued at approximately $3,972,244. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,037 shares of company stock valued at $1,395,948. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Allegiant Travel by 6.9% in the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after acquiring an additional 203 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at approximately $28,000. 180 Wealth Advisors LLC increased its position in shares of Allegiant Travel by 5.7% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock valued at $548,000 after purchasing an additional 392 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Allegiant Travel by 7.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after purchasing an additional 553 shares during the last quarter. Finally, Oldfield Partners LLP increased its position in shares of Allegiant Travel by 2.3% during the 1st quarter. Oldfield Partners LLP now owns 32,934 shares of the transportation company’s stock valued at $2,477,000 after purchasing an additional 734 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

(Get Free Report)

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.

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