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

Allegiant Travel (NASDAQ:ALGT) – Zacks Research reduced 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 anticipates that the transportation company will post earnings of ($2.51) per share for the quarter, down from their previous 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.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. During the same quarter in the prior year, the business earned $4.35 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year.

Several other research analysts also recently issued reports on the company. Susquehanna reduced their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Evercore ISI reduced their price objective 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 reduced their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. TD Cowen cut their price target on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley cut their price target 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.50.

Allegiant Travel Stock Up 0.7 %

NASDAQ:ALGT opened at $40.20 on Monday. The stock’s fifty day moving average price is $47.79 and its two-hundred day moving average price is $58.63. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $95.55. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. The company has a market cap of $732.93 million, a price-to-earnings ratio of 12.72, a P/E/G ratio of 2.06 and a beta of 1.66.

Insider Activity at Allegiant Travel

In related news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the sale, the chief operating officer now owns 9,422 shares in the company, valued at approximately $480,522. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the sale, the chief operating officer now owns 9,422 shares in the company, valued at approximately $480,522. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the sale, the executive vice president now owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The disclosure for this sale can be found here. Insiders sold a total of 2,153 shares of company stock worth $106,536 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Allegiant Travel by 1.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after acquiring an additional 17,792 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Allegiant Travel by 166.7% in the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after acquiring an additional 516,545 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after acquiring an additional 98,662 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after acquiring an additional 82,813 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

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.