Zacks Research Cuts Earnings Estimates for Allegiant Travel

Allegiant Travel (NASDAQ:ALGT) – Equities research analysts at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for Allegiant Travel in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the transportation company will post earnings per share of $0.77 for the quarter, down from their previous forecast of $0.79. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.04 per share. Zacks Research also issued estimates for Allegiant Travel’s Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.24 EPS and Q1 2026 earnings at $1.72 EPS.

Several other research analysts have also recently commented on the stock. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a research note on Friday. Susquehanna lifted their price objective on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. TD Cowen increased their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Evercore ISI boosted their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.11.

Allegiant Travel Price Performance

Shares of ALGT opened at $77.69 on Friday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a fifty day moving average price of $57.95 and a 200 day moving average price of $51.83. The company has a market cap of $1.43 billion, a P/E ratio of -51.79, a PEG ratio of 5.92 and a beta of 1.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Geode Capital Management LLC raised its position in Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after purchasing an additional 5,424 shares during the last quarter. Barclays PLC raised its stake in shares of Allegiant Travel by 136.9% during the third quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after buying an additional 18,421 shares during the last quarter. XTX Topco Ltd grew its holdings in Allegiant Travel by 15.0% during the 3rd quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company’s stock worth $963,000 after acquiring an additional 2,279 shares during the period. State Street Corp raised its position in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at $210,000. Institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. This trade represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,334 shares of company stock worth $117,158. 15.80% of the stock is currently 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.