Zacks Research Analysts Lift Earnings Estimates for Allegiant Travel (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Analysts at Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for Allegiant Travel in a research note issued on Wednesday, June 19th. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings of $0.95 per share for the quarter, up from their prior forecast of $0.91. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.62 per share. Zacks Research also issued estimates for Allegiant Travel’s Q3 2024 earnings at $0.50 EPS, FY2024 earnings at $3.69 EPS, Q3 2025 earnings at $1.73 EPS, Q4 2025 earnings at $2.65 EPS, FY2025 earnings at $7.94 EPS, Q1 2026 earnings at $2.45 EPS and FY2026 earnings at $10.47 EPS.

Other research analysts have also issued reports about the company. Susquehanna reduced their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. TD Cowen reduced their target price on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. UBS Group initiated coverage on Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price on the stock. Finally, Barclays reduced their target price on Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.57.

Allegiant Travel Stock Down 2.5 %

Shares of Allegiant Travel stock opened at $50.70 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. Allegiant Travel has a 12 month low of $46.90 and a 12 month high of $130.93. The business has a fifty day simple moving average of $54.07 and a 200 day simple moving average of $67.91. The stock has a market cap of $924.26 million, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.41 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The business had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. During the same period in the previous year, the firm earned $3.04 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year.

Allegiant Travel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.60 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.73%. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.

Insider Activity

In other news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the chief operating officer now directly owns 9,422 shares in the company, valued at $480,522. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the sale, the chief operating officer now owns 9,422 shares in the company, valued at $480,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the sale, the executive vice president now owns 74,948 shares in the company, valued at approximately $3,972,244. The disclosure for this sale can be found here. Insiders have sold a total of 26,037 shares of company stock worth $1,395,948 over the last three months. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Allegiant Travel during the fourth quarter worth approximately $141,350,000. Donald Smith & CO. Inc. increased its position in Allegiant Travel by 106.7% during the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after buying an additional 159,892 shares during the last quarter. U S Global Investors Inc. increased its position in Allegiant Travel by 23.4% during the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock worth $53,453,000 after buying an additional 122,844 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Allegiant Travel during the third quarter worth approximately $8,248,000. Finally, Dimensional Fund Advisors LP increased its position in Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after buying an additional 98,662 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

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.