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 EPS guidance of -2.250–1.750 for the period, compared to the consensus EPS estimate of -2.560. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays reduced their price target on Allegiant Travel from $55.00 to $45.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a buy rating to a hold rating and lowered their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Morgan Stanley reduced their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an equal weight rating for the company in a research note on Monday, July 8th. TD Cowen decreased their price target on Allegiant Travel from $39.00 to $33.00 and set a hold rating on the stock in a report on Wednesday, August 7th. Finally, Susquehanna cut their target price on Allegiant Travel from $55.00 to $40.00 and set a neutral rating for the company in a research report on Friday, August 16th. Two equities 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, Allegiant Travel currently has a consensus rating of Hold and an average price target of $59.50.

Allegiant Travel Trading Up 4.2 %

Shares of NASDAQ:ALGT traded up $1.80 during trading on Friday, reaching $44.86. The company’s stock had a trading volume of 88,083 shares, compared to its average volume of 349,989. The firm’s 50 day simple moving average is $44.00 and its two-hundred day simple moving average is $53.43. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91. The stock has a market capitalization of $817.89 million, a PE ratio of 13.85, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. Allegiant Travel’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.35 EPS. On average, research analysts predict that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares in the company, valued at $337,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.50% of the stock is currently owned by insiders.

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.