Allegiant Travel Company (ALGT) was Initiated by Imperial Capital to “Outperform” and the brokerage firm has set the Price Target at $164. Imperial Capital advised their investors in a research report released on Oct 7, 2016.
Many Wall Street Analysts have commented on Allegiant Travel Company. Shares were Reiterated by Cowen on Aug 1, 2016 to “Market Perform” and Lowered the Price Target to $ 147 from a previous price target of $165 .
On the company’s financial health, Allegiant Travel Company reported $3.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $3.55. The company had revenue of $344.90 million for the quarter, compared to analysts expectations of $344.30 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.18 EPS.
Allegiant Travel Company opened for trading at $136 and hit $141.24 on the upside on Tuesday, eventually ending the session at $140.19, with a gain of 3.33% or 4.52 points. The heightened volatility saw the trading volume jump to 1,45,258 shares. Company has a market cap of $2,311 M.
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.