Zacks Research Brokers Boost Earnings Estimates for Allegiant Travel (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGTFree Report) – Equities research analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Allegiant Travel in a research report issued to clients and investors on Wednesday, June 19th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $0.95 per share for the quarter, up from their previous estimate of $0.91. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Allegiant Travel’s Q3 2024 earnings at $0.50 EPS, FY2024 earnings at $3.69 EPS, Q3 2025 earnings at $1.73 EPS, Q4 2025 earnings at $2.65 EPS, FY2025 earnings at $7.94 EPS, Q1 2026 earnings at $2.45 EPS and FY2026 earnings at $10.47 EPS.

Other equities research analysts also recently issued research reports about the company. TD Cowen lowered their price objective on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. UBS Group started coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company. Barclays cut their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Finally, Susquehanna lowered their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Allegiant Travel has an average rating of “Hold” and an average price target of $77.57.

Get Our Latest Stock Analysis on Allegiant Travel

Allegiant Travel Trading Down 1.6 %

Shares of ALGT opened at $52.02 on Monday. Allegiant Travel has a fifty-two week low of $46.90 and a fifty-two week high of $130.93. The company has a market capitalization of $948.32 million, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.65. The stock has a fifty day moving average of $54.27 and a two-hundred day moving average of $68.08. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The business had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. During the same quarter in the previous year, the business posted $3.04 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis.

Institutional Trading of Allegiant Travel

Several large investors have recently modified their holdings of ALGT. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Allegiant Travel by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after acquiring an additional 98,662 shares in the last quarter. U S Global Investors Inc. increased its position in shares of Allegiant Travel by 23.4% in the 4th quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock worth $53,453,000 after purchasing an additional 122,844 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after purchasing an additional 82,813 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in shares of Allegiant Travel by 106.7% during the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after purchasing an additional 159,892 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the transaction, the chief marketing officer now directly owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the sale, the chief marketing officer now owns 64,812 shares in the company, valued at $3,479,108.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at $480,522. The disclosure for this sale can be found here. Insiders sold 26,037 shares of company stock valued at $1,395,948 over the last 90 days. Corporate insiders own 17.50% of the company’s stock.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.61%. Allegiant Travel’s dividend payout ratio is currently 75.95%.

Allegiant Travel Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Allegiant Travel (NASDAQ:ALGT)

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