Allegiant Travel (NASDAQ:ALGT) Releases Q4 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.00-1.00 for the period, compared to the consensus estimate of $0.62. Allegiant Travel also updated its Q4 2024 guidance to 0.000-1.000 EPS.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $2.27 during trading on Wednesday, reaching $62.96. The company had a trading volume of 707,468 shares, compared to its average volume of 363,748. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -68.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.65. 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’s 50-day simple moving average is $50.44 and its 200 day simple moving average is $50.77. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping the consensus estimate of $0.84 by $0.93. The firm had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $4.35 earnings per share. Sell-side analysts forecast that Allegiant Travel will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ALGT shares. Morgan Stanley decreased their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Barclays lowered their price objective on 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. Evercore ISI lifted their target price on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna upped their price target on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $53.00 in a research 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 issued a buy rating to the company. Based on data from MarketBeat, Allegiant Travel has an average rating of “Hold” and an average target price of $63.13.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Keny Frank Wilper sold 635 shares of the firm’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 value of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 directly owns 7,490 shares in the company, valued at approximately $337,050. This represents 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 valued at $117,158 over the last 90 days. 15.80% of the stock is owned by corporate insiders.

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.