Equities analysts predict that Allegiant Travel (NASDAQ:ALGT) will report sales of $57.66 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Allegiant Travel’s earnings. The lowest sales estimate is $30.60 million and the highest is $82.00 million. Allegiant Travel posted sales of $491.76 million in the same quarter last year, which suggests a negative year-over-year growth rate of 88.3%. The business is expected to announce its next earnings report on Wednesday, July 22nd.
On average, analysts expect that Allegiant Travel will report full year sales of $911.85 million for the current fiscal year, with estimates ranging from $837.94 million to $1.01 billion. For the next fiscal year, analysts expect that the business will post sales of $1.42 billion, with estimates ranging from $1.30 billion to $1.51 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Allegiant Travel.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 12th. The transportation company reported $2.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $1.52. The business had revenue of $409.20 million during the quarter, compared to the consensus estimate of $409.47 million. Allegiant Travel had a return on equity of 24.99% and a net margin of 7.86%. Allegiant Travel’s revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the company earned $3.52 EPS.
A number of equities research analysts recently weighed in on the company. Raymond James raised Allegiant Travel from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $115.00 to $135.00 in a report on Monday, June 22nd. ValuEngine raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Bank of America dropped their price target on Allegiant Travel from $167.00 to $100.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Evercore ISI raised Allegiant Travel from an “in-line” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Monday, March 2nd. Finally, Barclays cut Allegiant Travel from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $97.00 to $73.00 in a report on Monday, May 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $144.23.
Shares of Allegiant Travel stock traded down $2.03 during midday trading on Friday, hitting $109.60. 6,266 shares of the company were exchanged, compared to its average volume of 392,381. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.98 and a quick ratio of 0.94. The firm has a market cap of $1.73 billion, a P/E ratio of 12.85 and a beta of 1.42. Allegiant Travel has a 52 week low of $60.06 and a 52 week high of $183.26. The firm has a 50 day simple moving average of $102.85 and a 200-day simple moving average of $124.78.
In related news, CEO Maurice J. Gallagher, Jr. sold 95,000 shares of Allegiant Travel stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $122.00, for a total transaction of $11,590,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,749,362 shares of the company’s stock, valued at $335,422,164. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles W. Pollard acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $106.97 per share, with a total value of $106,970.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $1,069,700. The disclosure for this purchase can be found here. Insiders bought a total of 7,000 shares of company stock valued at $819,030 over the last three months. Insiders own 19.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado grew its stake in shares of Allegiant Travel by 152.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 573 shares of the transportation company’s stock worth $47,000 after purchasing an additional 346 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Allegiant Travel by 2,230.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 303 shares of the transportation company’s stock worth $53,000 after purchasing an additional 290 shares during the period. NumerixS Investment Technologies Inc grew its stake in shares of Allegiant Travel by 66.7% during the fourth quarter. NumerixS Investment Technologies Inc now owns 500 shares of the transportation company’s stock worth $87,000 after purchasing an additional 200 shares during the period. Toth Financial Advisory Corp bought a new position in Allegiant Travel during the first quarter worth about $136,000. Finally, Westside Investment Management Inc. bought a new position in Allegiant Travel during the first quarter worth about $143,000. 83.57% of the stock is owned by institutional investors and hedge funds.
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 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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