Allegiant Travel (NASDAQ:ALGT – Get Rating)’s stock price hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $100.00 and last traded at $115.14, with a volume of 795 shares trading hands. The stock had previously closed at $117.71.
The transportation company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.44). Allegiant Travel had a net margin of 7.11% and a return on equity of 7.66%. During the same quarter last year, the business posted $3.46 EPS.
Wall Street Analyst Weigh In
Several research analysts have weighed in on ALGT shares. Morgan Stanley dropped their price objective on shares of Allegiant Travel from $250.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Allegiant Travel from $245.00 to $190.00 in a research note on Thursday. Susquehanna Bancshares dropped their price objective on shares of Allegiant Travel from $185.00 to $140.00 and set a “positive” rating on the stock in a research note on Tuesday, July 12th. Susquehanna dropped their price objective on shares of Allegiant Travel from $185.00 to $140.00 and set a “positive” rating on the stock in a research note on Tuesday, July 12th. Finally, Evercore ISI dropped their price objective on shares of Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating on the stock in a research note on Monday, June 27th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Allegiant Travel has a consensus rating of “Moderate Buy” and an average target price of $191.33.
Insiders Place Their Bets
In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 500 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $112.89, for a total value of $56,445.00. Following the completion of the sale, the chief marketing officer now directly owns 8,035 shares of the company’s stock, valued at $907,071.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Scott Wayne Deangelo sold 500 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $112.89, for a total transaction of $56,445.00. Following the completion of the sale, the chief marketing officer now directly owns 8,035 shares of the company’s stock, valued at approximately $907,071.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Paul Wilson III sold 900 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $150.14, for a total transaction of $135,126.00. Following the sale, the executive vice president now directly owns 14,963 shares of the company’s stock, valued at $2,246,544.82. The disclosure for this sale can be found here. Insiders own 16.70% of the company’s stock.
Institutional Trading of Allegiant Travel
Several large investors have recently modified their holdings of ALGT. Rather & Kittrell Inc. bought a new stake in shares of Allegiant Travel during the 4th quarter worth $32,000. Cyrus J. Lawrence LLC acquired a new position in Allegiant Travel during the 1st quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Allegiant Travel by 58.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 98 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in Allegiant Travel during the 4th quarter valued at $56,000. Finally, Strs Ohio acquired a new position in Allegiant Travel during the 2nd quarter valued at $56,000. 98.49% of the stock is owned by institutional investors.
Allegiant Travel Trading Down 2.5 %
The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 14.68 and a beta of 1.49. The company’s 50 day moving average is $122.76 and its 200 day moving average is $147.11. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.55 and a current ratio of 1.59.
Allegiant Travel Company Profile
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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.
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