What is Zacks Research’s Estimate for ALGT FY2024 Earnings?

Allegiant Travel (NASDAQ:ALGT) – Research analysts at Zacks Research boosted their FY2024 earnings estimates for Allegiant Travel in a note issued to investors on Monday, January 6th. Zacks Research analyst R. Department now forecasts that the transportation company will post earnings of $2.53 per share for the year, up from their prior estimate of $1.09. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share. Zacks Research also issued estimates for Allegiant Travel’s Q4 2024 earnings at $2.21 EPS, Q1 2025 earnings at $2.32 EPS, Q2 2025 earnings at $3.03 EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $6.30 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $1.85 EPS, Q3 2026 earnings at $2.60 EPS, Q4 2026 earnings at $3.15 EPS and FY2026 earnings at $9.88 EPS.

Several other equities analysts also recently issued reports on the stock. UBS Group initiated coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective on the stock. Susquehanna upped their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. TD Cowen upped their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. Evercore ISI upped their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, Barclays upped their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.11.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $100.94 on Thursday. The company has a market capitalization of $1.85 billion, a PE ratio of -67.29, a P/E/G ratio of 7.17 and a beta of 1.62. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a 50-day simple moving average of $82.56 and a two-hundred day simple moving average of $60.71. Allegiant Travel has a one year low of $36.08 and a one year high of $101.71.

Insiders Place Their Bets

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the sale, the director now directly owns 11,650 shares in the company, valued at $940,970.50. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,304 shares of company stock valued at $2,459,900. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGT. Donald Smith & CO. Inc. grew its stake in shares of Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after purchasing an additional 516,545 shares during the period. U S Global Investors Inc. grew its stake in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares during the period. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at $8,959,000. Millennium Management LLC grew its stake in Allegiant Travel by 779.8% in the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after acquiring an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Allegiant Travel in the 3rd quarter valued at $63,540,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.