What is Zacks Research’s Estimate for ALGT FY2024 Earnings?

Allegiant Travel (NASDAQ:ALGT) – Investment analysts at Zacks Research lifted their FY2024 earnings estimates for Allegiant Travel in a report issued on Monday, January 6th. Zacks Research analyst R. Department now forecasts that the transportation company will post earnings of $2.53 per share for the year, up from their previous estimate of $1.09. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share. Zacks Research also issued estimates for Allegiant Travel’s Q4 2024 earnings at $2.21 EPS, Q1 2025 earnings at $2.32 EPS, Q2 2025 earnings at $3.03 EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $6.30 EPS, Q1 2026 earnings at $2.28 EPS, Q2 2026 earnings at $1.85 EPS, Q3 2026 earnings at $2.60 EPS, Q4 2026 earnings at $3.15 EPS and FY2026 earnings at $9.88 EPS.

Several other research analysts have also commented on ALGT. Morgan Stanley lifted their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th. Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna lifted their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.11.

Allegiant Travel Trading Up 1.7 %

Shares of ALGT opened at $100.94 on Thursday. The company’s fifty day moving average is $82.56 and its 200 day moving average is $60.71. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $101.71. The stock has a market capitalization of $1.85 billion, a PE ratio of -67.29, a P/E/G ratio of 7.17 and a beta of 1.62. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Insider Activity

In related news, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now directly owns 11,650 shares of the company’s stock, valued at $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 is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,304 shares of company stock valued at $2,459,900. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Allegiant Travel

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC lifted its stake in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares during the period. GAMMA Investing LLC lifted its stake in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the period. NBC Securities Inc. raised its holdings in Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,590 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.