Zacks Research Has Bullish Outlook for ALGT FY2024 Earnings

Allegiant Travel (NASDAQ:ALGT) – Equities research analysts at Zacks Research increased their FY2024 EPS estimates for Allegiant Travel in a research note issued to investors on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the transportation company will post earnings per share of $2.53 for the year, up from their previous 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 research analysts also recently weighed in on the company. Raymond James increased their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Evercore ISI increased their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. UBS Group initiated coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Finally, Barclays raised their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.11.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $99.30 on Thursday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -66.20, a PEG ratio of 7.17 and a beta of 1.62. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $101.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The business’s fifty day moving average price is $81.88 and its 200-day moving average price is $60.44.

Insider Activity

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel 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 completion of the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock worth $2,459,900 over the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

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

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.