Allegiant Travel (NASDAQ:ALGT) Expected to Announce Quarterly Sales of $429.39 Million

Wall Street brokerages expect Allegiant Travel (NASDAQ:ALGT) to announce sales of $429.39 million for the current quarter, Zacks reports. Four analysts have issued estimates for Allegiant Travel’s earnings, with the lowest sales estimate coming in at $423.04 million and the highest estimate coming in at $437.00 million. Allegiant Travel posted sales of $393.11 million during the same quarter last year, which suggests a positive year over year growth rate of 9.2%. The business is expected to report its next earnings report after the market closes on Thursday, October 24th.

On average, analysts expect that Allegiant Travel will report full-year sales of $1.83 billion for the current financial year, with estimates ranging from $1.81 billion to $1.84 billion. For the next year, analysts expect that the company will post sales of $2.02 billion, with estimates ranging from $1.95 billion to $2.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Allegiant Travel.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $4.33 earnings per share for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.34). The firm had revenue of $491.80 million during the quarter, compared to analyst estimates of $504.81 million. Allegiant Travel had a net margin of 10.54% and a return on equity of 26.59%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.10 earnings per share.

ALGT has been the topic of several research analyst reports. Sidoti raised their target price on shares of Allegiant Travel from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup raised their target price on shares of Allegiant Travel from $180.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. ValuEngine downgraded shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 10th. Buckingham Research raised their target price on shares of Allegiant Travel from $186.00 to $191.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, BidaskClub upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Allegiant Travel currently has a consensus rating of “Buy” and a consensus price target of $165.17.

In related news, CEO Maurice J. Gallagher, Jr. sold 40,731 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $154.40, for a total value of $6,288,866.40. Following the completion of the transaction, the chief executive officer now directly owns 2,889,421 shares of the company’s stock, valued at $446,126,602.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $145.10, for a total transaction of $145,100.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $290,200. The disclosure for this sale can be found here. Insiders sold 42,731 shares of company stock valued at $6,578,796 over the last three months. 20.90% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in ALGT. Wasatch Advisors Inc. boosted its position in Allegiant Travel by 20.9% during the second quarter. Wasatch Advisors Inc. now owns 774,176 shares of the transportation company’s stock worth $111,094,000 after purchasing an additional 133,858 shares during the period. Fidelity National Financial Inc. boosted its position in Allegiant Travel by 989.4% during the second quarter. Fidelity National Financial Inc. now owns 90,148 shares of the transportation company’s stock worth $12,936,000 after purchasing an additional 81,873 shares during the period. BlackRock Inc. boosted its position in Allegiant Travel by 3.4% during the second quarter. BlackRock Inc. now owns 1,885,795 shares of the transportation company’s stock worth $270,613,000 after purchasing an additional 61,271 shares during the period. Nuveen Asset Management LLC bought a new position in Allegiant Travel during the second quarter worth $7,401,000. Finally, Morgan Stanley boosted its position in Allegiant Travel by 205.4% during the second quarter. Morgan Stanley now owns 72,480 shares of the transportation company’s stock worth $10,401,000 after purchasing an additional 48,744 shares during the period. 80.75% of the stock is owned by hedge funds and other institutional investors.

ALGT stock traded down $0.32 during mid-day trading on Friday, hitting $152.71. 74,784 shares of the company were exchanged, compared to its average volume of 168,736. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.24 and a current ratio of 1.29. The firm has a market cap of $2.49 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.41 and a beta of 0.92. The firm’s 50 day simple moving average is $149.47 and its 200 day simple moving average is $144.20. Allegiant Travel has a 1-year low of $98.18 and a 1-year high of $157.50.

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 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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