Seaport Res Ptn Has Negative Outlook of ALGT FY2024 Earnings

Allegiant Travel (NASDAQ:ALGT) – Stock analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for Allegiant Travel in a research note issued on Tuesday, October 29th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will earn $1.95 per share for the year, down from their prior forecast 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.

ALGT has been the subject of a number of other reports. Susquehanna upped their price target on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley lowered their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. TD Cowen upped their price target on Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Evercore ISI upped 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Allegiant Travel has an average rating of “Hold” and an average price target of $63.13.

Allegiant Travel Stock Performance

Shares of ALGT opened at $65.01 on Thursday. The stock has a 50 day moving average price of $51.36 and a 200 day moving average price of $50.95. 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 company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -73.04, a price-to-earnings-growth ratio of 3.11 and a beta of 1.65. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, October 30th. The transportation company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($1.85) by ($0.17). Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $562.20 million for the quarter, compared to analyst estimates of $561.24 million.

Insider Buying and Selling at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the firm’s 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 sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,334 shares of company stock worth $117,158. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its holdings in Allegiant Travel by 34.3% in the third quarter. Harbor Capital Advisors Inc. now owns 10,198 shares of the transportation company’s stock valued at $562,000 after acquiring an additional 2,607 shares during the period. Donald Smith & CO. Inc. lifted its holdings in Allegiant Travel by 20.2% in the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after acquiring an additional 167,148 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the 3rd quarter worth $63,540,000. Finally, Signaturefd LLC raised its stake in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.