Analysts expect Allegiant Travel Company (NASDAQ:ALGT) to post $350.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegiant Travel’s earnings. The lowest sales estimate is $347.67 million and the highest is $352.50 million. Allegiant Travel posted sales of $333.48 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that Allegiant Travel will report full-year sales of $350.09 million for the current financial year, with estimates ranging from $1.48 billion to $1.50 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.66 billion per share, with estimates ranging from $1.63 billion to $1.70 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 Wednesday, July 26th. The transportation company reported $2.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.02). The business had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.68 earnings per share.
ALGT has been the subject of a number of research analyst reports. Bank of America Corporation decreased their target price on Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, June 30th. Morgan Stanley reissued an “equal weight” rating and issued a $141.00 target price (down from $144.00) on shares of Allegiant Travel in a research note on Monday, July 10th. Sidoti reissued a “buy” rating and issued a $186.00 target price (up from $183.00) on shares of Allegiant Travel in a research note on Wednesday, July 12th. Zacks Investment Research raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research note on Monday, July 17th. Finally, ValuEngine raised Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $144.17.
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Shares of Allegiant Travel (NASDAQ ALGT) traded up 1.19% during midday trading on Tuesday, reaching $140.30. The company had a trading volume of 79,237 shares. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25. The company’s 50-day moving average is $129.61 and its 200-day moving average is $137.37. The firm has a market cap of $2.27 billion, a P/E ratio of 13.16 and a beta of 0.03.
Allegiant Travel announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently modified their holdings of ALGT. First Trust Advisors LP lifted its holdings in shares of Allegiant Travel by 168.4% in the first quarter. First Trust Advisors LP now owns 7,022 shares of the transportation company’s stock valued at $1,125,000 after purchasing an additional 4,406 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Allegiant Travel by 62.4% in the first quarter. Parametric Portfolio Associates LLC now owns 35,604 shares of the transportation company’s stock valued at $5,706,000 after purchasing an additional 13,679 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Allegiant Travel in the first quarter valued at about $183,000. Arizona State Retirement System lifted its holdings in shares of Allegiant Travel by 1.5% in the first quarter. Arizona State Retirement System now owns 6,831 shares of the transportation company’s stock valued at $1,095,000 after purchasing an additional 100 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Allegiant Travel by 56.0% in the first quarter. Alliancebernstein L.P. now owns 36,162 shares of the transportation company’s stock valued at $5,795,000 after purchasing an additional 12,978 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.
About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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