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

Allegiant Travel (NASDAQ:ALGT) 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 -.

Allegiant Travel Trading Up 6.4 %

NASDAQ ALGT opened at $45.81 on Monday. The firm’s 50 day moving average price is $43.92 and its two-hundred day moving average price is $52.95. 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 has a twelve month low of $36.08 and a twelve month high of $85.91. The stock has a market cap of $835.21 million, a price-to-earnings ratio of 14.50, a PEG ratio of 5.50 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on ALGT shares. TD Cowen decreased their price target on shares of Allegiant Travel from $39.00 to $33.00 and set a hold rating for the company in a report on Wednesday, August 7th. Morgan Stanley decreased their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an equal weight rating for the company in a research note on Monday, July 8th. Evercore ISI dropped 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. Susquehanna cut their price objective on Allegiant Travel from $55.00 to $40.00 and set a neutral rating for the company in a report on Friday, August 16th. Finally, Barclays lowered their target price on Allegiant Travel from $55.00 to $45.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel currently has an average rating of Hold and a consensus target price of $59.50.

Insider Buying and Selling

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s 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 transaction, the director now directly owns 7,490 shares in the company, valued at $337,050. The transaction was disclosed in a filing with the SEC, which is available through this link. 17.50% of the stock is currently owned by corporate insiders.

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.