Allegiant Travel Company (ALGT) was Reiterated by Imperial Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 196 from a previous price target of $160 . Imperial Capital advised their investors in a research report released on Nov 22, 2016.
Many Wall Street Analysts have commented on Allegiant Travel Company. Allegiant Travel Company was Initiated by Citigroup to “Buy” on Nov 18, 2016. Shares were Reiterated by Imperial Capital on Oct 28, 2016 to “Outperform” and Lowered the Price Target to $ 160 from a previous price target of $164 .Allegiant Travel Company was Downgraded by Raymond James to ” Mkt Perform” on Oct 27, 2016.
On the company’s financial health, Allegiant Travel Company reported $2.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $2.66. The company had revenue of $33.50 million for the quarter, compared to analysts expectations of $332.40 million. The company’s revenue was down -88.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.62 EPS.
Allegiant Travel Company opened for trading at $162.15 and hit $165.3 on the upside on Monday, eventually ending the session at $165.2, with a gain of 2.74% or 4.4 points. The heightened volatility saw the trading volume jump to 1,43,059 shares. Company has a market cap of $2,733 M.
In a different news, on Nov 14, 2016, Scott Sheldon (Chief Financial Officer) sold 2,596 shares at $153.70 per share price. According to the SEC, on Nov 14, 2016, Jude Bricker (SVP-Planning and COO) sold 4,631 shares at $151.63 per share price. On Mar 11, 2016, Maurice J Jr Gallagher (CEO and President) sold 292,200 shares at $163.50 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.