Allegiant Air had over 100 'serious mechanical incidents' in 2 years

Two Allegiant Air jets taxi at Mc Carran International Airport in Las Vegas

Allegiant Air had over 100 'serious mechanical incidents' in 2 years

According to Zacks, "We expect Allegiant's first-quarter results to be hurt by high labor and fuel costs". In fact, the stock has declined significantly in the past month. "Additionally, Allegiant's initiatives to modernize its fleet are impressive".

Allegiant Air (NASDAQ:ALGT) had its price target decreased by Morgan Stanley from $171.00 to $169.00 in a report issued on Thursday. ValuEngine raised Allegiant Air from a hold rating to a buy rating in a report on Wednesday, March 7th. Finally, Stifel Nicolaus increased their price target on Allegiant Air from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock.

Allegiant Air had over 100 'serious mechanical incidents' in 2 years

ALGT stock opened at $151.05 on Thursday. The company has a market cap of $2,655.02, a price-to-earnings ratio of 15.82, a PEG ratio of 0.54 and a beta of 0.07. Allegiant Travel Company has a one year low of $121.70 and a one year high of $183.91. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.98 and a quick ratio of 0.95. The transportation company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.93. Allegiant Air had a return on equity of 31.47% and a net margin of 12.96%. The firm had revenue of $378.56 million for the quarter, compared to the consensus estimate of $377.25 million. During the same period previous year, the company earned $2.48 earnings per share. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. research analysts expect that Allegiant Air will post 10.82 earnings per share for the current year. Also, SVP Gregory Clark Anderson sold 1,650 shares of the firm's stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $170.73, for a total value of $313,801.74. Following the completion of the sale, the senior vice president now directly owns 15,935 shares in the company, valued at $2,840,413.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

In related news, Director Gary Ellmer sold 285 shares of the firm's stock in a transaction dated Wednesday, December 28th. Following the completion of the sale, the chief executive officer now owns 2,977,169 shares of the company's stock, valued at approximately $486,469,414.60. The disclosure for this sale can be found here. Invictus RG now owns 1,359 shares of the company's stock worth $206,000 after buying an additional 272 shares in the last quarter.

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Large investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Allegiant Air by 36.0% during the 4th quarter. Capital Fund Management S.A. now owns 77,344 shares of the transportation company's stock worth $11,969,000 after purchasing an additional 23,816 shares during the last quarter.

Allegiant Air defended its safety record in an internal message to employees and in a statement Sunday. Invictus RG increased its position in shares of Allegiant Travel Company by 25.0% in the second quarter. Alliancebernstein L.P. now owns 21,697 shares of the transportation company's stock valued at $3,358,000 after buying an additional 525 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Allegiant Travel Company during the third quarter worth approximately $120,000. New York State Common Retirement Fund now owns 127,441 shares of the transportation company's stock worth $16,784,000 after purchasing an additional 62,520 shares during the last quarter.

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Several hedge funds and other institutional investors have recently modified their holdings of ALGT.

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