Allegiant Travel (NASDAQ:ALGT) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Allegiant Travel (NASDAQ:ALGT) released its earnings results on Tuesday. The transportation company reported ($2.09) EPS for the quarter, missing analysts’ consensus estimates of ($2.05) by ($0.04), Zacks reports. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. Allegiant Travel updated its FY 2025 guidance to 3.000- EPS.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock traded down $3.90 during midday trading on Tuesday, hitting $58.03. The company had a trading volume of 514,781 shares, compared to its average volume of 416,508. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -3.64, a PEG ratio of 0.49 and a beta of 1.71. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $107.57. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. The company has a fifty day simple moving average of $62.90 and a 200 day simple moving average of $56.66.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its stake in Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after acquiring an additional 373 shares during the last quarter. State of Wyoming purchased a new position in shares of Allegiant Travel in the second quarter worth about $159,000. Tower Research Capital LLC TRC boosted its position in Allegiant Travel by 856.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,308 shares of the transportation company’s stock valued at $182,000 after buying an additional 2,962 shares during the last quarter. Headlands Technologies LLC acquired a new position in Allegiant Travel in the 2nd quarter worth approximately $218,000. Finally, Quantinno Capital Management LP acquired a new stake in Allegiant Travel during the 2nd quarter valued at approximately $342,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALGT has been the subject of a number of research analyst reports. Susquehanna increased their price objective on shares of Allegiant Travel from $50.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Bank of America boosted their price target on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, October 8th. Evercore ISI raised their price target on Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Finally, UBS Group raised their target price on shares of Allegiant Travel from $52.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $70.56.

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.