Q3 2024 EPS Estimates for Allegiant Travel Raised by Zacks Research (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Equities researchers at Zacks Research lifted their Q3 2024 earnings per share estimates for shares of Allegiant Travel in a note issued to investors on Monday, September 23rd. Zacks Research analyst S. Goswami now expects that the transportation company will post earnings per share of ($1.79) for the quarter, up from their previous forecast of ($2.51). The consensus estimate for Allegiant Travel’s current full-year earnings is $0.97 per share. Zacks Research also issued estimates for Allegiant Travel’s Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $1.34 EPS, Q1 2025 earnings at $1.96 EPS, Q3 2025 earnings at $1.23 EPS, Q4 2025 earnings at $1.69 EPS, FY2025 earnings at $7.07 EPS, Q2 2026 earnings at $1.73 EPS and FY2026 earnings at $9.37 EPS.

Other analysts have also issued reports about the stock. TD Cowen dropped their target price 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. Barclays cut their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI reduced their target price on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Susquehanna dropped their price target on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.50.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $49.76 on Thursday. The company’s fifty day simple moving average is $43.66 and its two-hundred day simple moving average is $52.54. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The firm has a market cap of $910.61 million, a PE ratio of 15.75, a price-to-earnings-growth ratio of 6.10 and a beta of 1.64. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30.

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

Institutional Trading of Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. Vanguard Group Inc. raised its stake in Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after buying an additional 38,612 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position 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 worth $47,509,000 after purchasing an additional 17,792 shares during the last quarter. Donald Smith & CO. Inc. raised its position 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 worth $41,506,000 after purchasing an additional 516,545 shares during the last quarter. American Century Companies Inc. boosted its stake in Allegiant Travel by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock worth $21,538,000 after purchasing an additional 56,208 shares in the last quarter. Finally, Par Capital Management Inc. grew its position in Allegiant Travel by 1.4% during the 4th quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock valued at $20,942,000 after purchasing an additional 3,500 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 17.50% of the stock is owned by corporate insiders.

About Allegiant Travel

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.