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

by · The Markets Daily

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

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on ALGT

Allegiant Travel Trading Up 6.4 %

NASDAQ:ALGT opened at $45.81 on Friday. The firm has a 50-day simple moving average of $43.92 and a 200-day simple moving average of $53.10. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91. The firm has a market cap of $835.21 million, a P/E ratio of 14.50, a P/E/G ratio of 5.50 and a beta of 1.64. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last posted 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 positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $666.28 million during the quarter, compared to analyst estimates of $657.74 million. During the same quarter in the prior year, the business earned $4.35 earnings per share. Allegiant Travel’s revenue was down 2.6% on a year-over-year basis. Equities analysts anticipate that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.50% of the stock is owned by insiders.

Allegiant Travel Company Profile

(Get Free Report)

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.

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