Allegiant Travel (NASDAQ:ALGT) Releases Q3 2024 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -2.250–1.750 for the period, compared to the consensus estimate of -2.560. The company issued revenue guidance of -.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $45.81 on Friday. The company’s fifty day moving average price is $43.92 and its 200-day moving average price is $53.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The firm has a market capitalization of $835.21 million, a price-to-earnings ratio of 14.50, a PEG ratio of 5.50 and a beta of 1.64. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating 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 business had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. During the same quarter in the prior year, the firm earned $4.35 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Allegiant Travel will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays cut their target price on Allegiant Travel from $55.00 to $45.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Morgan Stanley reduced their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an equal weight rating on the stock in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a buy rating to a hold rating and lowered their price target for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Susquehanna reduced their price objective on Allegiant Travel from $55.00 to $40.00 and set a neutral rating on the stock in a research note on Friday, August 16th. Finally, TD Cowen lowered their target price on Allegiant Travel from $39.00 to $33.00 and set a hold rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $59.50.

Insider Activity at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The sale was disclosed in a filing with the SEC, which is available through this link. 17.50% of the stock is owned by company insiders.

Allegiant Travel Company Profile

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.