FY2024 EPS Estimate for Allegiant Travel Boosted by Analyst

Allegiant Travel (NASDAQ:ALGT) – Equities researchers at Zacks Research increased their FY2024 earnings per share estimates for Allegiant Travel in a research report issued on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the transportation company will post earnings of $2.53 per share for the year, up from their prior estimate of $1.09. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share. Zacks Research also issued estimates for Allegiant Travel’s Q4 2024 earnings at $2.21 EPS, Q1 2025 earnings at $2.32 EPS, Q2 2025 earnings at $3.03 EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $6.30 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $1.85 EPS, Q3 2026 earnings at $2.60 EPS, Q4 2026 earnings at $3.15 EPS and FY2026 earnings at $9.88 EPS.

A number of other equities research analysts have also recently commented on ALGT. Barclays raised their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. UBS Group assumed coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target on the stock. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Finally, Raymond James increased their target price on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.11.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $99.30 on Thursday. The firm has a 50 day moving average of $82.56 and a 200-day moving average of $60.71. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -66.20, a price-to-earnings-growth ratio of 7.17 and a beta of 1.62. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $101.00.

Insiders Place Their Bets

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the transaction, the director now owns 11,650 shares in the company, valued at $940,970.50. This represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock valued at $2,459,900 in the last three months. 15.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in Allegiant Travel during the third quarter valued at $63,540,000. Charles Schwab Investment Management Inc. raised its stake in shares of Allegiant Travel by 41.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after buying an additional 75,486 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Allegiant Travel during the 2nd quarter valued at $8,959,000. Hauser Brothers GmbH grew its stake in shares of Allegiant Travel by 73.0% during the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 10,000 shares during the period. Finally, State Street Corp increased its holdings in Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after acquiring an additional 10,050 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

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.