What is Seaport Res Ptn’s Estimate for ALGT FY2024 Earnings?

Allegiant Travel (NASDAQ:ALGT) – Seaport Res Ptn lowered their FY2024 EPS estimates for Allegiant Travel in a report issued on Tuesday, October 29th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings of $1.95 per share for the year, down from their previous forecast of $2.60. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.47 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q4 2024 earnings at $1.35 EPS, Q2 2025 earnings at $3.55 EPS and Q4 2025 earnings at $1.85 EPS.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, October 30th. The transportation company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($1.85) by ($0.17). The firm had revenue of $562.20 million during the quarter, compared to analysts’ expectations of $561.24 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%.

A number of other research analysts also recently issued reports on ALGT. Barclays reduced their price objective on shares of 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. Susquehanna boosted their target price on shares of Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Morgan Stanley dropped 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 report on Monday, July 8th. Finally, Evercore ISI boosted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.13.

Allegiant Travel Stock Up 3.7 %

Shares of Allegiant Travel stock opened at $62.96 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $50.88 and its two-hundred day simple moving average is $50.85. The company has a market cap of $1.15 billion, a P/E ratio of -70.74, a PEG ratio of 3.11 and a beta of 1.65. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91.

Insider Buying and Selling

In other Allegiant Travel 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 transaction of $45,000.00. Following the transaction, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 completion of the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $45,000.00. Following the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,334 shares of company stock worth $117,158 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Vanguard Group Inc. grew its holdings in Allegiant Travel by 2.3% during the 1st 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 in the last quarter. Donald Smith & CO. Inc. lifted its position in Allegiant Travel by 20.2% in the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after buying an additional 167,148 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Allegiant Travel by 1.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after buying an additional 17,792 shares during the last quarter. U S Global Investors Inc. increased its stake in Allegiant Travel by 51.9% in the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after purchasing an additional 253,198 shares during the period. Finally, American Century Companies Inc. increased its stake in Allegiant Travel by 15.1% in the second 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 during the period. 85.81% of the stock is owned by hedge funds and other 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.