Buckingham Research Upgrades Allegiant Travel Company to Buy

Brokerage firm Buckingham Research Upgrades its rating on Allegiant Travel Company(NASDAQ:ALGT). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Buckingham Research was issued on Sep 23, 2016.

In a different note, On Aug 3, 2016, Stifel Nicolaus said it Maintains its rating on Allegiant Travel Company. In the research note, the firm Lowers the price-target to $200.00 per share. The shares have been rated ‘Buy’ by the firm.

Allegiant Travel Company (ALGT) made into the market gainers list on Tuesdays trading session with the shares advancing 2.93% or 3.82 points. Due to strong positive momentum, the stock ended at $134.05, which is also near the day’s high of $134.12. The stock began the session at $130.08 and the volume stood at 1,11,220 shares. The 52-week high of the shares is $228.79 and the 52 week low is $121.7. The company has a current market capitalization of $2,210 M and it has 1,64,83,223 shares in outstanding.

Allegiant Travel Company(ALGT) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $344.85M. Analysts had an estimated revenue of $343.80M. Earnings per share were $3.68. Analysts had estimated an EPS of $3.55.

Several Insider Transactions has been reported to the SEC. On Mar 11, 2016, Maurice J Jr Gallagher (CEO and President) sold 292,200 shares at $163.50 per share price.Also, 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.

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