Zacks Research Comments on Allegiant Travel’s Q3 2024 Earnings (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Stock analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Allegiant Travel in a note issued to investors on Wednesday, August 14th. Zacks Research analyst S. Goswami now forecasts that the transportation company will post earnings per share of ($2.51) for the quarter, down from their prior forecast of $0.32. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Allegiant Travel’s Q4 2024 earnings at $1.87 EPS, FY2024 earnings at $1.70 EPS, Q1 2025 earnings at $1.56 EPS, Q2 2025 earnings at $1.95 EPS, Q4 2025 earnings at $1.02 EPS, Q2 2026 earnings at $2.61 EPS and FY2026 earnings at $8.22 EPS.

Other analysts also recently issued research reports about the company. Evercore ISI cut their price target on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Barclays cut their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley cut their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Finally, Susquehanna lowered their price target on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.50.

Allegiant Travel Trading Up 0.7 %

Shares of NASDAQ ALGT opened at $40.20 on Monday. The company has a market cap of $732.93 million, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.06 and a beta of 1.66. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $95.55. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. The stock’s 50 day simple moving average is $47.79 and its 200 day simple moving average is $58.63.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. During the same quarter last year, the business posted $4.35 EPS. Allegiant Travel’s quarterly revenue was down 2.6% compared to the same quarter last year.

Insider Activity

In other news, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at approximately $480,522. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares in the company, valued at approximately $3,972,244. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the transaction, the chief operating officer now owns 9,422 shares in the company, valued at $480,522. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,153 shares of company stock worth $106,536. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently modified their holdings of ALGT. GAMMA Investing LLC purchased a new position in shares of Allegiant Travel during the fourth quarter valued at $28,000. Innealta Capital LLC purchased a new position in shares of Allegiant Travel during the second quarter valued at $34,000. CWM LLC grew its holdings in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Allegiant Travel during the first quarter valued at $141,000. Finally, Commerce Bank purchased a new position in shares of Allegiant Travel during the fourth quarter valued at $201,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.