Allegiant Travel (NASDAQ:ALGT) Posts Earnings Results, Beats Estimates By $0.40 EPS

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) released its quarterly earnings results on Monday. The transportation company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.40, Zacks reports. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The company 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 firm posted $0.75 earnings per share. The business's revenue for the quarter was up 3.5% compared to the same quarter last year. 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 Up 1.0%

Allegiant Travel stock opened at $48.59 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.87. The company has a market capitalization of $886.77 million, a price-to-earnings ratio of -4.20, a PEG ratio of 0.40 and a beta of 1.72. Allegiant Travel has a one year low of $36.08 and a one year high of $107.57. The company's fifty day moving average price is $54.03 and its two-hundred day moving average price is $60.78.

Hedge Funds Weigh In On Allegiant Travel

An institutional investor recently raised its position in Allegiant Travel stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,202 shares of the transportation company's stock after acquiring an additional 394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Allegiant Travel worth $475,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 85.81% of the company's stock.

Analyst Ratings Changes

ALGT has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a research report on Tuesday, July 8th. Morgan Stanley reduced their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Raymond James Financial reiterated a "strong-buy" rating and issued a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Susquehanna reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $65.11.

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.