Allegiant Travel (NASDAQ:ALGT) Downgraded by Wall Street Zen to “Sell”

Allegiant Travel (NASDAQ:ALGT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other analysts also recently issued reports on ALGT. Raymond James Financial downgraded shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $78.00 to $98.00 in a report on Friday. Zacks Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. UBS Group reissued a “neutral” rating and set a $87.00 target price (up previously from $66.00) on shares of Allegiant Travel in a research note on Friday, December 12th. Citigroup started coverage on Allegiant Travel in a research report on Thursday, December 4th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, Susquehanna increased their price target on Allegiant Travel from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average price target of $79.55.

Allegiant Travel Stock Down 0.7%

Shares of ALGT opened at $85.14 on Friday. Allegiant Travel has a 52-week low of $39.80 and a 52-week high of $107.57. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $71.32 and a two-hundred day simple moving average of $62.05. The company has a market capitalization of $1.56 billion, a PE ratio of -5.22, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The firm had revenue of $496.88 million during the quarter. As a group, equities analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Charles Schwab Investment Management Inc. raised its stake in Allegiant Travel by 10.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 337,120 shares of the transportation company’s stock valued at $17,412,000 after buying an additional 32,478 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Allegiant Travel by 22.1% in the 1st quarter. Invesco Ltd. now owns 116,737 shares of the transportation company’s stock valued at $6,029,000 after acquiring an additional 21,094 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Allegiant Travel by 694.8% during the 1st quarter. Russell Investments Group Ltd. now owns 15,133 shares of the transportation company’s stock worth $782,000 after acquiring an additional 13,229 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Allegiant Travel during the first quarter worth approximately $1,237,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Allegiant Travel by 5.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company’s stock worth $50,770,000 after purchasing an additional 54,321 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.