What is Seaport Res Ptn's Forecast for ALGT FY2024 Earnings?

Allegiant Travel (NASDAQ:ALGT - Free Report) - Equities researchers at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for Allegiant Travel in a note issued to investors on Tuesday, October 29th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings of $1.95 per share for the year, down from their previous estimate 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The transportation company reported ($2.02) EPS for the quarter, missing analysts' consensus estimates of ($1.85) by ($0.17). The business had revenue of $562.20 million for the quarter, compared to the consensus estimate of $561.24 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%.

A number of other equities research analysts have also recently commented on ALGT. Barclays decreased their price target on Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 10th. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. Susquehanna lifted their target price on Allegiant Travel from $40.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. TD Cowen lifted their target price on Allegiant Travel from $33.00 to $42.00 and gave the stock a "hold" rating in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a "buy" rating to a "hold" rating and reduced their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Two equities 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $63.13.

Allegiant Travel Price Performance

NASDAQ:ALGT traded up $2.05 on Thursday, reaching $65.01. 948,206 shares of the company's stock traded hands, compared to its average volume of 366,534. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock has a 50-day simple moving average of $51.36 and a 200-day simple moving average of $50.95. The firm has a market cap of $1.19 billion, a PE ratio of -73.04, a P/E/G 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.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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 worth $131,591,000 after buying an additional 38,612 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company's stock valued at $54,701,000 after purchasing an additional 167,148 shares during the period. Diamond Hill Capital Management Inc. lifted its stake 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 valued at $47,509,000 after purchasing an additional 17,792 shares during the period. U S Global Investors Inc. increased its holdings in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company's stock worth $40,823,000 after acquiring an additional 253,198 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings 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 acquiring an additional 56,208 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company's stock.

Insiders Place Their Bets

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares of the company's stock, valued at $1,025,169.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Ellmer sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares of the company's stock, valued at $337,050. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock valued at $117,158 over the last ninety days. 15.80% of the stock is owned by 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.