Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

by · The Cerbat Gem

Allegiant Travel (NASDAQ:ALGT – Get Free Report) posted its quarterly earnings results on Tuesday. The transportation company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of ($2.05) by ($0.04), Zacks reports. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. Allegiant Travel updated its FY 2025 guidance to 3.000- EPS.

Allegiant Travel Trading Down 6.3%

Shares of NASDAQ:ALGT traded down $3.90 on Tuesday, hitting $58.03. 514,902 shares of the company’s stock were exchanged, compared to its average volume of 416,508. Allegiant Travel has a 12 month low of $39.80 and a 12 month high of $107.57. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -3.64, a price-to-earnings-growth ratio of 0.49 and a beta of 1.71. The business’s 50 day simple moving average is $62.90 and its two-hundred day simple moving average is $56.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after acquiring an additional 373 shares in the last quarter. State of Wyoming bought a new stake in Allegiant Travel during the 2nd quarter valued at $159,000. Tower Research Capital LLC TRC raised its position in Allegiant Travel by 856.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,308 shares of the transportation company’s stock valued at $182,000 after purchasing an additional 2,962 shares in the last quarter. Headlands Technologies LLC bought a new position in Allegiant Travel during the 2nd quarter worth about $218,000. Finally, Quantinno Capital Management LP bought a new position in Allegiant Travel during the 2nd quarter worth about $342,000. 85.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Morgan Stanley dropped their price target on Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Zacks Research upgraded shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Finally, UBS Group boosted their price target on shares of Allegiant Travel from $52.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.56.

View Our Latest Stock Report on ALGT

Allegiant Travel Company Profile

(Get Free Report)

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.

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