Brokers Offer Predictions for Allegiant Travel’s Q3 2018 Earnings (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Research analysts at Imperial Capital decreased their Q3 2018 earnings per share estimates for shares of Allegiant Travel in a note issued to investors on Tuesday, according to Zacks Investment Research. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings per share of $1.42 for the quarter, down from their prior estimate of $1.50. Imperial Capital currently has a “In-Line” rating and a $150.00 target price on the stock.

A number of other brokerages also recently weighed in on ALGT. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Deutsche Bank raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and increased their price target for the company from $130.00 to $180.00 in a report on Thursday, December 21st. Cowen reissued a “market perform” rating and issued a $158.00 price target (up from $145.00) on shares of Allegiant Travel in a report on Friday, December 1st. Raymond James Financial reissued a “hold” rating on shares of Allegiant Travel in a report on Monday, December 4th. Finally, Buckingham Research downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Allegiant Travel has a consensus rating of “Hold” and an average target price of $152.55.

Shares of Allegiant Travel (ALGT) opened at $165.50 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05. The stock has a market cap of $2,660.00, a price-to-earnings ratio of 17.61 and a beta of 0.16. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $180.40.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. The business had revenue of $348.80 million during the quarter, compared to the consensus estimate of $349.79 million. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. Allegiant Travel’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 EPS.

In other Allegiant Travel news, President John Redmond acquired 11,000 shares of Allegiant Travel stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $138.28 per share, with a total value of $1,521,080.00. Following the acquisition, the president now owns 92,574 shares of the company’s stock, valued at $12,801,132.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $155.74, for a total transaction of $2,774,975.32. The disclosure for this sale can be found here. Insiders have sold a total of 40,708 shares of company stock valued at $6,227,913 over the last ninety days. 22.00% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Allegiant Travel by 28.9% during the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after purchasing an additional 186 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Allegiant Travel by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after purchasing an additional 127 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Allegiant Travel by 119.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after purchasing an additional 599 shares in the last quarter. Flinton Capital Management LLC increased its position in shares of Allegiant Travel by 81.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after purchasing an additional 504 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Allegiant Travel by 2.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

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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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Earnings History and Estimates for Allegiant Travel (NASDAQ:ALGT)

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