Allegiant Travel Company (ALGT) is Reiterated by Cowen to Market Perform, Lowers Price Target to $ 178

Allegiant Travel Company (ALGT) was Reiterated by Cowen to “Market Perform” while Lowering the Price Target of the company shares to $ 178 from a previous price target of $180 . Cowen advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on Allegiant Travel Company. Shares were Downgraded by Barclays on Apr 15, 2016 to ” Underweight” and Lowered the Price Target to $ 188 from a previous price target of $205 .

On the company’s financial health, Allegiant Travel Company reported $4.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $4.28. The company had revenue of $348.60 million for the quarter, compared to analysts expectations of $346.46 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.74 EPS.

Allegiant Travel Company closed down -1.9 points or -1.12% at $168.46 with 1,27,421 shares getting traded on Wednesday. Post opening the session at $169.86, the shares hit an intraday low of $166.83 and an intraday high of $171.765 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 11, 2016, Maurice J Jr Gallagher (CEO and President) sold 292,200 shares at $163.50 per share price. According to the SEC, on Nov 24, 2015, Gary Ellmer (director) sold 480 shares at $200.00 per share price. On Aug 14, 2015, John Redmond (director) sold 6,000 shares at $224.77 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Allegiant Travel Company

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