Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

Key Points

• Allegiant Travel reported earnings of $1.23 per share for the quarter, exceeding the consensus estimate of $0.84 by $0.39.
• Shares of NASDAQ:ALGT increased by $0.47 during trading, reaching $48.59, with a market cap of approximately $887.01 million.
• Analyst ratings vary, with a consensus rating of "Hold" and an average price target of $65.11, reflecting differing opinions on Allegiant Travel's future performance.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) posted its earnings results on Monday. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.83 by $0.40, Zacks reports. Allegiant Travel had a positive return on equity of 4.88% and a negative net margin of 11.10%. The business had revenue of $689.40 million during the quarter, compared to analysts' expectations of $685.58 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm's revenue was up 3.5% on a year-over-year basis. Allegiant Travel updated its FY 2015 guidance to 2.250- EPS and its Q3 2025 guidance to -2.750--1.750 EPS.

Allegiant Travel Trading Down 0.7%

ALGT stock traded down $0.33 during trading on Friday, hitting $49.15. 89,168 shares of the company traded hands, compared to its average volume of 443,129. The firm has a market capitalization of $897.06 million, a PE ratio of -3.06, a P/E/G ratio of 0.46 and a beta of 1.72. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $107.57. The company has a 50-day moving average of $53.64 and a 200-day moving average of $60.26. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.87 and a current ratio of 0.90.

Institutional Investors Weigh In On Allegiant Travel

A hedge fund recently raised its stake in Allegiant Travel stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,202 shares of the transportation company's stock after purchasing an additional 394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Allegiant Travel worth $475,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 85.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays reduced their target price on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Morgan Stanley cut their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a report on Tuesday, July 1st. Raymond James Financial reiterated a "strong-buy" rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Finally, UBS Group cut their price objective on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $64.33.

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.