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

Allegiant Travel (NASDAQ:ALGT - Free Report) - Equities researchers at Seaport Res Ptn cut their FY2024 EPS estimates for shares of Allegiant Travel in a research note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will earn $1.13 per share for the year, down from their prior forecast of $1.95. The consensus estimate for Allegiant Travel's current full-year earnings is $1.27 per share. Seaport Res Ptn also issued estimates for Allegiant Travel's Q4 2024 earnings at $0.75 EPS.

A number of other research firms have also issued reports on ALGT. TD Cowen boosted their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a "hold" rating in a research note on Friday. 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 research note on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating for the company in a research note on Monday, July 8th. Susquehanna boosted their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Barclays boosted their target price on shares of Allegiant Travel from $45.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $65.38.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $2.95 during midday trading on Monday, reaching $65.96. 380,293 shares of the stock traded hands, compared to its average volume of 367,908. 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 firm has a fifty day moving average price of $51.72 and a two-hundred day moving average price of $50.82. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -43.97, a PEG ratio of 4.25 and a beta of 1.61. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91.

Insider Transactions at Allegiant Travel

In related news, 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 sale, the director now directly owns 7,490 shares in the company, valued at $337,050. The trade was 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. In related news, 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 sale, the director now directly owns 7,490 shares in the company, valued at $337,050. The trade was 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, 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 sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 2,334 shares of company stock valued at $117,158. Company insiders own 15.80% of the company's stock.

Institutional Investors Weigh In On Allegiant Travel

A number of large investors have recently made changes to their positions in ALGT. BNP Paribas Financial Markets raised its holdings in shares of Allegiant Travel by 369.1% during the first quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company's stock valued at $1,796,000 after acquiring an additional 18,785 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Allegiant Travel by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 7,799 shares of the transportation company's stock valued at $587,000 after acquiring an additional 1,235 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of Allegiant Travel during the first quarter valued at approximately $834,000. Empowered Funds LLC raised its holdings in shares of Allegiant Travel by 7.8% during the first quarter. Empowered Funds LLC now owns 71,275 shares of the transportation company's stock valued at $5,361,000 after acquiring an additional 5,175 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel during the first quarter valued at approximately $141,000. Institutional investors and hedge funds 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.