Allegiant Travel (NASDAQ:ALGT) Releases Quarterly Earnings Results

Allegiant Travel (NASDAQ:ALGT) issued its quarterly earnings data on Tuesday. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $0.48 by $1.62, Zacks reports. Allegiant Travel had a negative net margin of 1.04% and a positive return on equity of 0.63%.

Allegiant Travel Price Performance

Shares of ALGT stock traded up $1.30 on Tuesday, hitting $99.11. 568,082 shares of the company’s stock were exchanged, compared to its average volume of 306,173. The company has a 50 day moving average of $92.39 and a 200 day moving average of $67.20. The stock has a market cap of $1.82 billion, a P/E ratio of -66.07, a price-to-earnings-growth ratio of 1.36 and a beta of 1.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $107.57.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction 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 owns 11,650 shares of the company’s stock, valued at $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James upped their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Bank of America upped their target price on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Barclays upped their price objective on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.60.

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.