Allegiant Travel (NASDAQ:ALGT) Expected to Post Quarterly Sales of $469.00 Million

Equities analysts expect Allegiant Travel (NASDAQ:ALGT) to report $469.00 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Allegiant Travel’s earnings, with the lowest sales estimate coming in at $464.70 million and the highest estimate coming in at $472.00 million. Allegiant Travel reported sales of $246.56 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 90.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 2nd.

On average, analysts expect that Allegiant Travel will report full year sales of $1.68 billion for the current financial year, with estimates ranging from $1.68 billion to $1.69 billion. For the next year, analysts expect that the business will report sales of $2.20 billion, with estimates ranging from $2.14 billion to $2.23 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Allegiant Travel.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, October 26th. The transportation company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.02. The business had revenue of $459.47 million for the quarter, compared to analyst estimates of $451.35 million. Allegiant Travel had a negative return on equity of 0.35% and a net margin of 7.71%. Allegiant Travel’s quarterly revenue was up 128.6% compared to the same quarter last year. During the same period last year, the company posted ($4.28) earnings per share.

Several analysts have commented on the stock. Wolfe Research lowered shares of Allegiant Travel from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 6th. They noted that the move was a valuation call. The Goldman Sachs Group raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $245.00 to $250.00 in a report on Tuesday, November 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Allegiant Travel from $285.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, October 12th. TheStreet upgraded Allegiant Travel from a “c-” rating to a “b-” rating in a research note on Thursday, July 29th. Finally, Susquehanna cut their price target on Allegiant Travel from $255.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, October 29th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $251.09.

In other Allegiant Travel news, insider Rebecca Aretos sold 182 shares of Allegiant Travel stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $182.45, for a total transaction of $33,205.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 16.70% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new position in Allegiant Travel during the second quarter worth about $28,000. Captrust Financial Advisors boosted its position in shares of Allegiant Travel by 52.3% during the 1st quarter. Captrust Financial Advisors now owns 198 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 68 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Allegiant Travel during the second quarter worth about $40,000. Harbor Investment Advisory LLC increased its position in shares of Allegiant Travel by 20.2% in the second quarter. Harbor Investment Advisory LLC now owns 315 shares of the transportation company’s stock worth $61,000 after purchasing an additional 53 shares during the last quarter. Finally, Capital Analysts LLC raised its stake in Allegiant Travel by 47.9% in the second quarter. Capital Analysts LLC now owns 587 shares of the transportation company’s stock valued at $114,000 after purchasing an additional 190 shares in the last quarter. 85.98% of the stock is owned by institutional investors.

Shares of NASDAQ:ALGT traded up $0.22 during midday trading on Friday, reaching $185.57. The company had a trading volume of 86,257 shares, compared to its average volume of 166,488. The stock has a market cap of $3.36 billion, a P/E ratio of 29.46 and a beta of 1.63. The company’s 50 day moving average price is $190.57 and its 200 day moving average price is $196.28. The company has a current ratio of 1.91, a quick ratio of 1.87 and a debt-to-equity ratio of 1.20. Allegiant Travel has a 52-week low of $166.10 and a 52-week high of $271.29.

About Allegiant Travel

Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.

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Earnings History and Estimates for Allegiant Travel (NASDAQ:ALGT)

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