Allegiant Travel (ALGT) Scheduled to Post Quarterly Earnings on Wednesday

Allegiant Travel (NASDAQ:ALGT – Get Rating) is scheduled to announce its earnings results after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $0.75 per share for the quarter. Allegiant Travel has set its Q4 2022 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The transportation company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.07). Allegiant Travel had a negative net margin of 1.80% and a positive return on equity of 1.68%. The business had revenue of $560.33 million during the quarter, compared to the consensus estimate of $556.65 million. On average, analysts expect Allegiant Travel to post $1 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Allegiant Travel Price Performance

Shares of ALGT stock opened at $83.60 on Wednesday. Allegiant Travel has a twelve month low of $62.94 and a twelve month high of $186.86. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -38.17 and a beta of 1.56. The stock has a fifty day simple moving average of $75.13 and a two-hundred day simple moving average of $86.00. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 1.55.

Insider Activity

In related news, CMO Scott Wayne Deangelo sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $69.37, for a total transaction of $86,712.50. Following the sale, the chief marketing officer now directly owns 15,106 shares of the company’s stock, valued at $1,047,903.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Price T Rowe Associates Inc. MD grew its holdings in Allegiant Travel by 220.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock worth $150,485,000 after acquiring an additional 915,511 shares during the period. State Street Corp grew its holdings in Allegiant Travel by 7.7% in the first quarter. State Street Corp now owns 643,363 shares of the transportation company’s stock valued at $104,476,000 after purchasing an additional 46,220 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of Allegiant Travel in the first quarter valued at approximately $6,479,000. Royal London Asset Management Ltd. raised its stake in shares of Allegiant Travel by 35.4% during the 1st quarter. Royal London Asset Management Ltd. now owns 134,205 shares of the transportation company’s stock worth $21,813,000 after buying an additional 35,081 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Allegiant Travel during the 2nd quarter valued at approximately $3,200,000. 85.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALGT shares. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Tuesday, October 11th. Cowen cut Allegiant Travel from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a report on Thursday, December 15th. The Goldman Sachs Group started coverage on Allegiant Travel in a report on Friday, December 16th. They issued a “buy” rating and a $96.00 target price for the company. Barclays lowered their target price on Allegiant Travel from $100.00 to $96.00 and set an “overweight” rating for the company in a report on Wednesday, January 11th. Finally, Susquehanna Bancshares decreased their price objective on Allegiant Travel from $140.00 to $110.00 in a research note on Tuesday, October 11th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and an average price target of $102.33.

About Allegiant Travel

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Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.

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