Allegiant Travel (NASDAQ:ALGT) Posts Quarterly Earnings Results, Beats Estimates By $0.52 EPS

Allegiant Travel (NASDAQ:ALGTGet Free Report) issued its earnings results on Monday. The transportation company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52, MarketWatch Earnings reports. Allegiant Travel had a net margin of 6.71% and a return on equity of 8.15%. The firm had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. During the same quarter in the prior year, the business earned $3.17 earnings per share. Allegiant Travel’s revenue for the quarter was down .1% on a year-over-year basis. Allegiant Travel updated its Q1 2024 guidance to 0.500-1.500 EPS.

Allegiant Travel Trading Up 7.4 %

NASDAQ ALGT opened at $78.50 on Wednesday. The company’s 50-day moving average price is $78.17 and its 200-day moving average price is $81.72. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 1.50. The stock has a market cap of $1.44 billion, a PE ratio of 8.42 and a beta of 1.61. Allegiant Travel has a 12 month low of $54.87 and a 12 month high of $130.93.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Castleview Partners LLC bought a new position in shares of Allegiant Travel in the second quarter worth about $44,000. Lazard Asset Management LLC bought a new position in shares of Allegiant Travel in the third quarter worth about $31,000. State of Wyoming grew its holdings in shares of Allegiant Travel by 38.8% in the second quarter. State of Wyoming now owns 691 shares of the transportation company’s stock worth $87,000 after purchasing an additional 193 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Allegiant Travel by 82.9% in the first quarter. Captrust Financial Advisors now owns 812 shares of the transportation company’s stock worth $132,000 after purchasing an additional 368 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Allegiant Travel by 32.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after acquiring an additional 200 shares in the last quarter. 81.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALGT. TD Cowen upped their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday. Raymond James decreased their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday. StockNews.com downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. Barclays decreased their price target on shares of Allegiant Travel from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, November 6th. Finally, Susquehanna decreased their price target on shares of Allegiant Travel from $120.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average price target of $97.14.

View Our Latest Research Report on ALGT

About Allegiant Travel

(Get Free Report)

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.

See Also

Earnings History for Allegiant Travel (NASDAQ:ALGT)

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