Equities research analysts forecast that Allegiant Travel (NASDAQ:ALGT) will post sales of $316.90 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Allegiant Travel’s earnings, with the lowest sales estimate coming in at $302.00 million and the highest estimate coming in at $335.20 million. Allegiant Travel reported sales of $409.18 million in the same quarter last year, which indicates a negative year-over-year growth rate of 22.6%. The business is scheduled to issue its next earnings report on Tuesday, May 11th.
On average, analysts expect that Allegiant Travel will report full year sales of $1.56 billion for the current year, with estimates ranging from $1.37 billion to $1.64 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.97 billion, with estimates ranging from $1.66 billion to $2.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Allegiant Travel.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 2nd. The transportation company reported ($1.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.44) by $1.32. Allegiant Travel had a negative net margin of 7.86% and a negative return on equity of 8.83%. The company had revenue of $246.56 million for the quarter, compared to the consensus estimate of $245.48 million. During the same period in the prior year, the firm posted $3.72 EPS. Allegiant Travel’s revenue for the quarter was down 46.5% on a year-over-year basis.
ALGT has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Allegiant Travel from an “underweight” rating to a “market weight” rating and raised their price target for the company from $200.00 to $238.00 in a report on Friday. Bank of America downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Friday, January 8th. Cowen raised shares of Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Monday, January 11th. Morgan Stanley raised their price objective on shares of Allegiant Travel from $190.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Raymond James raised their price objective on shares of Allegiant Travel from $215.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $184.82.
Shares of NASDAQ ALGT traded up $0.04 during trading on Thursday, reaching $258.21. 180,275 shares of the company traded hands, compared to its average volume of 139,353. The firm has a 50 day simple moving average of $216.45 and a 200-day simple moving average of $166.94. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $4.24 billion, a PE ratio of -42.81 and a beta of 1.71. Allegiant Travel has a 52-week low of $60.06 and a 52-week high of $262.87.
In other news, CFO Gregory Clark Anderson sold 3,270 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $216.11, for a total transaction of $706,679.70. Following the transaction, the chief financial officer now directly owns 29,795 shares of the company’s stock, valued at $6,438,997.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Ellmer sold 450 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $220.10, for a total transaction of $99,045.00. Following the transaction, the director now directly owns 1,715 shares in the company, valued at $377,471.50. The disclosure for this sale can be found here. In the last three months, insiders sold 18,397 shares of company stock valued at $3,983,350. 19.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of ALGT. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Allegiant Travel during the first quarter worth approximately $155,000. Envestnet Asset Management Inc. increased its holdings in Allegiant Travel by 5.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,582 shares of the transportation company’s stock valued at $549,000 after buying an additional 241 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Allegiant Travel by 5,502.4% during the third quarter. Steward Partners Investment Advisory LLC now owns 7,003 shares of the transportation company’s stock valued at $839,000 after buying an additional 6,878 shares during the period. Meeder Asset Management Inc. purchased a new position in Allegiant Travel during the third quarter valued at approximately $597,000. Finally, Royal London Asset Management Ltd. increased its holdings in Allegiant Travel by 2.1% during the third quarter. Royal London Asset Management Ltd. now owns 72,267 shares of the transportation company’s stock valued at $8,741,000 after buying an additional 1,463 shares during the period. 86.10% of the stock is currently owned by institutional investors and hedge funds.
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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.
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