Seaport Res Ptn Expects Higher Earnings for Allegiant Travel

Allegiant Travel (NASDAQ:ALGT - Free Report) - Equities research analysts at Seaport Res Ptn increased their FY2024 EPS estimates for Allegiant Travel in a research note issued to investors on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings per share of $2.42 for the year, up from their previous forecast of $1.13. The consensus estimate for Allegiant Travel's current full-year earnings is $1.00 per share. Seaport Res Ptn also issued estimates for Allegiant Travel's Q4 2024 earnings at $2.05 EPS, Q1 2025 earnings at $2.40 EPS, Q2 2025 earnings at $3.60 EPS, Q3 2025 earnings at ($0.30) EPS and Q4 2025 earnings at $1.80 EPS.

Other research analysts have also issued reports about the company. Wolfe Research lowered Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. UBS Group assumed coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They issued 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 report on Thursday. Barclays boosted their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.00.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock traded up $2.83 on Monday, hitting $87.30. The stock had a trading volume of 258,813 shares, compared to its average volume of 368,491. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -58.20, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The business's 50 day moving average is $73.84 and its two-hundred day moving average is $56.81. 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 twelve month low of $36.08 and a twelve month high of $94.45.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the transaction, the chairman now owns 2,147,730 shares of the company's stock, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,600 shares of company stock valued at $2,476,465 over the last three months. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently bought and sold shares of ALGT. Franklin Resources Inc. lifted its stake in shares of Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock worth $34,584,000 after acquiring an additional 14,852 shares during the period. Barclays PLC increased its stake in Allegiant Travel by 136.9% in the third quarter. Barclays PLC now owns 31,876 shares of the transportation company's stock valued at $1,755,000 after purchasing an additional 18,421 shares in the last quarter. Geode Capital Management LLC raised its stake in Allegiant Travel by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company's stock worth $20,089,000 after buying an additional 5,424 shares during the period. XTX Topco Ltd raised its position in shares of Allegiant Travel by 15.0% during the third quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company's stock worth $963,000 after purchasing an additional 2,279 shares during the period. Finally, State Street Corp lifted its stake in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company's stock valued at $33,530,000 after buying an additional 10,050 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

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.