Allegiant Travel (NASDAQ:ALGT) Issues Q4 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.00-1.00 for the period, compared to the consensus estimate of $0.62. Allegiant Travel also updated its Q4 2024 guidance to 0.000-1.000 EPS.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of research reports. Susquehanna raised their target price on shares of Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. 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 report on Monday, July 8th. TD Cowen upped their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Barclays cut their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Evercore ISI increased their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. 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 data from MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and an average target price of $63.13.

Allegiant Travel Stock Performance

ALGT stock traded up $2.27 during midday trading on Wednesday, reaching $62.96. The stock had a trading volume of 707,468 shares, compared to its average volume of 363,748. The firm has a fifty day simple moving average of $50.44 and a two-hundred day simple moving average of $50.77. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The stock has a market cap of $1.15 billion, a PE ratio of -68.19, a P/E/G ratio of 3.11 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $657.74 million. During the same quarter in the previous year, the company posted $4.35 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Allegiant Travel will post 1.47 EPS for the current year.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 of the company’s stock, valued at $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at $337,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock valued at $117,158 in the last ninety days. Insiders own 15.80% 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.