Zacks Research Has Negative Outlook for ALGT FY2024 Earnings

Allegiant Travel (NASDAQ:ALGT) – Zacks Research reduced their FY2024 EPS estimates for Allegiant Travel in a research note issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the transportation company will post earnings per share of $1.09 for the year, down from their prior estimate of $1.34. 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 Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $4.96 EPS, Q2 2026 earnings at $1.22 EPS, Q3 2026 earnings at $2.08 EPS and FY2026 earnings at $7.76 EPS.

A number of other research analysts also recently commented on ALGT. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays raised their price objective on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Susquehanna lifted their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. TD Cowen increased their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $70.11.

Allegiant Travel Price Performance

ALGT stock opened at $74.20 on Monday. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91. The firm has a market capitalization of $1.36 billion, a P/E ratio of -49.47, a price-to-earnings-growth ratio of 6.17 and a beta of 1.61. The company has a fifty day simple moving average of $58.60 and a two-hundred day simple moving average of $51.96. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its holdings in shares of Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares during the period. Innealta Capital LLC bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at about $34,000. CWM LLC lifted its position in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the period. Finally, NBC Securities Inc. lifted its position in shares of Allegiant Travel by 2,827.9% in the 3rd 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 during the period. Institutional investors own 85.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following 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. Insiders have sold a total of 1,931 shares of company stock worth $101,372 over the last quarter. Company 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.