Allegiant Travel (NASDAQ:ALGT) Releases Q3 2024 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -2.250–1.750 for the period, compared to the consensus earnings per share estimate of -2.560. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. TD Cowen cut their target price on Allegiant Travel from $39.00 to $33.00 and set a hold rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a buy rating to a hold rating and lowered their target price for the company from $75.00 to $53.00 in a report on Monday, July 8th. Susquehanna reduced their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a neutral rating for the company in a research report on Friday, August 16th. Evercore ISI dropped their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an in-line rating on the stock in a research report on Monday, July 15th. Finally, Morgan Stanley dropped their price target on Allegiant Travel from $95.00 to $87.00 and set an equal weight rating on the stock in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $59.50.

Allegiant Travel Stock Up 6.4 %

Shares of NASDAQ ALGT opened at $45.81 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The stock has a market capitalization of $835.21 million, a PE ratio of 14.50, a P/E/G ratio of 5.50 and a beta of 1.64. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91. The business’s fifty day moving average price is $43.92 and its 200-day moving average price is $53.24.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm had revenue of $666.28 million during the quarter, compared to analyst estimates of $657.74 million. During the same quarter last year, the business earned $4.35 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Allegiant Travel will post 0.96 EPS for the current year.

Insider Buying and Selling at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the 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 owns 7,490 shares of the company’s stock, valued at approximately $337,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.50% 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.