Research Analysts’ Recent Ratings Changes for Allegiant Travel Company (ALGT)

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Allegiant Travel Company (NASDAQ: ALGT) has recently received a number of price target changes and ratings updates:

  • 7/22/2015 – Allegiant Travel Company was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $225.00 price target on the stock. They wrote, “low fuel prices and robust leisure demand.,” analyst Savanthi Syth mentioned.Syth added that a A closer examination of on the timing of the company’s new markets had revealeds that the expected anticipated pressure on the year on year scheduled service TRASM, due to accelerated capacity growth, was now likely to be limited, Syth added.In the report Raymond James noted that, “Thus, despite the acceleration of capacity growth in 2H15, …we are now forecasting TRASM to decline by 8% compared to our prior 12% decline estimate and the ~7% decline in 2Q15.”Allegiant Travel’s 2016 growth is expected to be driven by the expansion of its leisure destination offering at existing cities rather than the an entry into new cities which tends to boost the costs too. “Moreover, in 2016, the ~2 ppt TRASM drag from the credit card surcharge (which reduced both revenue and cost) should be lapped. Thus, we expect TRASM to decline by ~1% y/y vs. the 6% decline forecasted for 2015,”
  • 7/22/2015 – Allegiant Travel Company was upgraded by analysts at RBC Capital from a “sector perform” rating to an “outperform” rating. They now have a $225.00 price target on the stock.
  • 7/15/2015 – Allegiant Travel Company was upgraded by analysts at Zacks from a “hold” rating to a “buy” rating. They now have a $217.00 price target on the stock. According to Zacks, “Las Vegas-based ALLEGIANT TRAVEL COMPANY , is focused on linking travelers in small cities to world-class leisure destinations such as Las Vegas, Nev., Phoenix, Ariz., Fort Lauderdale, Fla., Orlando, Fla. and Tampa/St. Petersburg, Fla. Through its subsidiary, Allegiant Air, LLC, the Company operates a low-cost, high-efficiency, all-jet passenger airline offering air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel related services. “
  • 7/9/2015 – Allegiant Travel Company had its “outperform” rating reaffirmed by analysts at Imperial Capital. They now have a $220.00 price target on the stock. They wrote, “We are maintaining our Outperform rating and our one-year price target of $220 on ALGT shares. In recent months, ALGT shares have held up better than peers as the business remains largely insulated from greater airline sector capacity concerns. This relative outperformance appears to be partially driven by ALGT successes in new medium and large markets in which there is none or little direct competition from peers. Aided by lower fuel prices, new and now more profitable flying is expected to drive a meaningful improvement in free cash flow, of which we expect a significant portion to be returned to shareholders with buybacks.””
  • 7/8/2015 – Allegiant Travel Company had its price target raised by analysts at Cowen and Company from $175.00 to $185.00. They now have a “market perform” rating on the stock.
  • 6/23/2015 – Allegiant Travel Company is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $200.00 price target on the stock.
  • 6/18/2015 – Allegiant Travel Company was upgraded by analysts at Barclays from an “underweight” rating to an “equal weight” rating. They now have a $200.00 price target on the stock, up previously from $167.00.

Shares of Allegiant Travel Company (NASDAQ:ALGT) opened at 205.00 on Thursday. Allegiant Travel Company has a 52-week low of $104.52 and a 52-week high of $207.65. The stock has a 50-day moving average of $180.24 and a 200-day moving average of $174.89. The company has a market cap of $3.53 billion and a P/E ratio of 30.73.

Allegiant Travel Company (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $3.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.50 by $0.24. The company had revenue of $329.24 million for the quarter, compared to the consensus estimate of $322.51 million. During the same quarter in the prior year, the company posted $1.86 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts predict that Allegiant Travel Company will post $11.94 earnings per share for the current fiscal year.

In other Allegiant Travel Company news, Director Gary Ellmer sold 520 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $178.82, for a total value of $92,986.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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. The Company’s 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. Scheduled service air transportation includes scheduled air transportation on limited-frequency non-stop flights between under-served cities and leisure destinations. The Company provides unbundled air-related services and products in conjunction with air transportation for an additional cost to customers. Third-party ancillary products and services comprise offering third-party travel products. Fixed fee contract air transportation includes providing air transportation through fixed fee agreements and charter service on a year-round and ad-hoc basis.


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