Allegiant Travel Company (ALGT) is Upgraded by Raymond James to Outperform

Allegiant Travel Company (ALGT) was Upgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Raymond James advised their investors in a research report released on Jun 14, 2016.

Many Wall Street Analysts have commented on Allegiant Travel Company. Shares were Reiterated by Cowen on Apr 28, 2016 to “Market Perform” and Lowered the Price Target to $ 178 from a previous price target of $180 .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 -2.07 points or -1.37% at $148.67 with 1,27,183 shares getting traded on Friday. Post opening the session at $149.39, the shares hit an intraday low of $147 and an intraday high of $152.13 and the price fluctuated in this range throughout the day.Shares ended Friday 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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