Allegiant Travel (NASDAQ:ALGT) Updates Q4 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.75-2.25 for the period, compared to the consensus estimate of $0.66.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of recent research reports. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. UBS Group initiated coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target for the company. TD Cowen boosted their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.78.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $84.90 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -56.60, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45. The company has a 50 day moving average price of $71.21 and a 200 day moving average price of $55.66.

Insider Transactions at Allegiant Travel

In related news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 in the last ninety days. Insiders own 15.80% of the company’s stock.

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.