Equities Analysts Offer Predictions for ALGT FY2024 Earnings

Allegiant Travel (NASDAQ:ALGT) – Analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for Allegiant Travel in a report released on Tuesday, October 29th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $1.95 per share for the year, down from their prior estimate of $2.60. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.27 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q4 2024 earnings at $1.35 EPS, Q2 2025 earnings at $3.55 EPS and Q4 2025 earnings at $1.85 EPS.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, October 30th. The transportation company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($1.85) by ($0.17). Allegiant Travel had a negative net margin of 1.04% and a positive return on equity of 0.63%. The business had revenue of $562.20 million during the quarter, compared to analyst estimates of $561.24 million.

Several other brokerages have also commented on ALGT. Barclays decreased their price target 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. Evercore ISI boosted their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $53.00 in a report on Monday, July 8th. TD Cowen boosted their price objective on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday. Finally, Susquehanna boosted their price objective on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and an average target price of $64.13.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $63.01 on Thursday. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91. The business’s fifty day simple moving average is $51.72 and its 200-day simple moving average is $50.96. The firm has a market cap of $1.15 billion, a PE ratio of -42.01, a price-to-earnings-growth ratio of 4.11 and a beta of 1.65. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its holdings in shares of Allegiant Travel by 34.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,198 shares of the transportation company’s stock valued at $562,000 after acquiring an additional 2,607 shares during the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after acquiring an additional 167,148 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel in the 3rd quarter valued at about $63,540,000. Finally, Signaturefd LLC increased its holdings in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insiders Place Their Bets

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares in the company, valued at approximately $337,050. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,334 shares of company stock worth $117,158 in the last quarter. 15.80% 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.