Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results, Beats Expectations By $1.62 EPS

Allegiant Travel (NASDAQ:ALGT) posted its quarterly earnings data on Tuesday. The transportation company reported $2.10 earnings per share (EPS) 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 Trading Up 1.3 %

Allegiant Travel stock traded up $1.30 during mid-day trading on Tuesday, hitting $99.11. The company’s stock had a trading volume of 568,794 shares, compared to its average volume of 306,201. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $107.57. 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 firm has a market capitalization of $1.82 billion, a PE ratio of -66.07, a price-to-earnings-growth ratio of 1.36 and a beta of 1.63. The stock’s fifty day moving average is $92.39 and its two-hundred day moving average is $67.20.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Cowen upped their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Susquehanna increased their target price on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.60.

Insider Transactions at Allegiant Travel

In other news, 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 sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated 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 completion of the transaction, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.80% 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.