Allegiant Travel (NASDAQ:ALGT) Releases Quarterly Earnings Results, Misses Estimates By $1.43 EPS

Allegiant Travel (NASDAQ:ALGT) released its quarterly earnings results on Wednesday. The transportation company reported ($5.96) EPS for the quarter, missing the consensus estimate of ($4.53) by ($1.43), MarketWatch Earnings reports. The firm had revenue of $133.30 million for the quarter, compared to the consensus estimate of $118.13 million. Allegiant Travel had a positive return on equity of 5.06% and a negative net margin of 1.54%. The firm’s revenue was down 72.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.33 EPS.

ALGT stock opened at $112.03 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.94 and a debt-to-equity ratio of 1.56. Allegiant Travel has a one year low of $60.06 and a one year high of $183.26. The firm has a market capitalization of $1.81 billion, a PE ratio of 44.42 and a beta of 1.47. The firm has a 50-day moving average of $110.94 and a two-hundred day moving average of $114.45.

In related news, President John Redmond purchased 5,000 shares of Allegiant Travel stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $122.89 per share, with a total value of $614,450.00. Following the completion of the transaction, the president now directly owns 242,375 shares of the company’s stock, valued at $29,785,463.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 95,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $122.00, for a total transaction of $11,590,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,749,362 shares of the company’s stock, valued at $335,422,164. The disclosure for this sale can be found here. Insiders have acquired 7,000 shares of company stock valued at $819,030 over the last ninety days. Insiders own 19.60% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Deutsche Bank increased their target price on shares of Allegiant Travel from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 13th. BidaskClub upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Friday, July 17th. ValuEngine upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays lowered shares of Allegiant Travel from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $97.00 to $73.00 in a research report on Monday, May 4th. Finally, Goldman Sachs Group lowered shares of Allegiant Travel from a “buy” rating to a “neutral” rating and increased their target price for the company from $133.00 to $142.00 in a research report on Sunday, June 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $137.92.

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 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

Further Reading: Green Investing

Earnings History for Allegiant Travel (NASDAQ:ALGT)

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