Analysts Anticipate Allegiant Travel (ALGT) to Announce $1.78 Earnings Per Share

Brokerages predict that Allegiant Travel (NASDAQ:ALGT) will report $1.78 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Allegiant Travel’s earnings, with the highest EPS estimate coming in at $1.87 and the lowest estimate coming in at $1.64. Allegiant Travel reported earnings per share of $2.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 28.2%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, January 31st.

On average, analysts expect that Allegiant Travel will report full-year earnings of $8.67 per share for the current financial year, with EPS estimates ranging from $8.52 to $8.80. For the next year, analysts forecast that the company will post earnings of $10.79 per share, with EPS estimates ranging from $10.30 to $11.26. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Allegiant Travel.

Several analysts recently weighed in on ALGT shares. ValuEngine upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Deutsche Bank upgraded Allegiant Travel from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $180.00 in a research note on Thursday, December 21st. Bank of America upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, January 9th. Stifel Nicolaus upgraded Allegiant Travel from a “hold” rating to a “buy” rating and increased their target price for the company from $150.00 to $200.00 in a research note on Tuesday, January 16th. Finally, BidaskClub upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $157.09.

In other news, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of the stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $155.82, for a total value of $2,495,924.76. Following the completion of the transaction, the chief executive officer now directly owns 3,144,674 shares of the company’s stock, valued at approximately $490,003,102.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the completion of the transaction, the director now directly owns 2,120 shares of the company’s stock, valued at $315,562. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,696 shares of company stock valued at $47,742,513. Insiders own 22.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Allegiant Travel by 154.9% in the 3rd quarter. SG Americas Securities LLC now owns 6,371 shares of the transportation company’s stock worth $839,000 after buying an additional 3,872 shares in the last quarter. State Street Corp raised its holdings in shares of Allegiant Travel by 2.4% in the 2nd quarter. State Street Corp now owns 354,060 shares of the transportation company’s stock worth $48,013,000 after buying an additional 8,300 shares in the last quarter. AHL Partners LLP raised its holdings in shares of Allegiant Travel by 309.1% in the 2nd quarter. AHL Partners LLP now owns 38,747 shares of the transportation company’s stock worth $5,254,000 after buying an additional 29,275 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Allegiant Travel by 517.5% in the 3rd quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock worth $694,000 after buying an additional 4,414 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Allegiant Travel in the 2nd quarter worth approximately $385,000. 85.99% of the stock is owned by institutional investors and hedge funds.

Shares of Allegiant Travel (NASDAQ ALGT) traded down $1.70 during trading hours on Tuesday, reaching $159.40. The company had a trading volume of 230,377 shares, compared to its average volume of 160,063. Allegiant Travel has a 1 year low of $111.54 and a 1 year high of $178.45. The company has a market cap of $2,560.00, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.34 and a beta of 0.16. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05.

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About Allegiant Travel

Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.

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Earnings History and Estimates for Allegiant Travel (NASDAQ:ALGT)

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