FY2024 Earnings Forecast for ALGT Issued By Seaport Res Ptn

Allegiant Travel (NASDAQ:ALGT) – Investment analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for shares of Allegiant Travel in a research note issued to investors on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will earn $2.42 per share for the year, up from their prior estimate of $1.13. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q4 2024 earnings at $2.05 EPS, Q1 2025 earnings at $2.40 EPS, Q2 2025 earnings at $3.60 EPS, Q3 2025 earnings at ($0.30) EPS and Q4 2025 earnings at $1.80 EPS.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays increased their price objective on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Susquehanna lifted their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.00.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $84.47 on Monday. The company has a market capitalization of $1.55 billion, a PE ratio of -56.31, a P/E/G ratio of 7.17 and a beta of 1.67. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average price of $73.84 and a two-hundred day moving average price of $56.78. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. lifted its position in shares of Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after buying an additional 516,545 shares in the last quarter. U S Global Investors Inc. grew its position in shares of Allegiant Travel by 51.9% in the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after purchasing an additional 253,198 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Allegiant Travel during the second quarter valued at about $8,959,000. Millennium Management LLC increased its holdings in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after acquiring an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Allegiant Travel in the 3rd quarter valued at $63,540,000. Institutional investors own 85.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is currently owned by company 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.