Allegiant Travel (NASDAQ:ALGT) Releases Q3 2024 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -2.250–1.750 for the period, compared to the consensus estimate of -2.560. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALGT. Susquehanna decreased their target price on shares of Allegiant Travel from $55.00 to $40.00 and set a neutral rating on the stock in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a buy rating to a hold rating and reduced their price target for the stock from $75.00 to $53.00 in a report on Monday, July 8th. TD Cowen dropped their price objective on shares of Allegiant Travel from $39.00 to $33.00 and set a hold rating for the company in a report on Wednesday, August 7th. Morgan Stanley reduced their target price on shares of 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. Finally, Barclays dropped their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of Hold and an average target price of $59.50.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $45.81 on Friday. 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 company’s 50 day simple moving average is $43.92 and its 200-day simple moving average is $53.10. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The company has a market capitalization of $835.21 million, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64.

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, beating 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 previous year, the business earned $4.35 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts expect that Allegiant Travel will post 0.96 earnings per share for the current year.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares in the company, valued at $337,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.50% 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.