Imperial Capital Comments on Allegiant Travel’s Q1 2018 Earnings (ALGT)

Allegiant Travel (NASDAQ:ALGT) – Equities research analysts at Imperial Capital lifted their Q1 2018 earnings per share (EPS) estimates for Allegiant Travel in a report released on Thursday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will earn $3.06 per share for the quarter, up from their prior forecast of $2.64. Imperial Capital has a “In-Line” rating and a $150.00 price target on the stock. Imperial Capital also issued estimates for Allegiant Travel’s Q2 2018 earnings at $3.42 EPS, Q3 2018 earnings at $1.76 EPS, Q4 2018 earnings at $2.39 EPS and FY2018 earnings at $10.65 EPS.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. The firm had revenue of $348.80 million for 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%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.75 earnings per share.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Stifel Nicolaus raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $200.00 in a research note on Tuesday, January 16th. Buckingham Research downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Bank of America raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, January 9th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Allegiant Travel in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $157.09.

Allegiant Travel (NASDAQ ALGT) opened at $168.30 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.05 and a quick ratio of 1.01. The firm has a market cap of $2,705.91, a PE ratio of 18.08, a PEG ratio of 2.46 and a beta of 0.16. Allegiant Travel has a 52 week low of $111.54 and a 52 week high of $178.73.

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 127 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Allegiant Travel by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after acquiring an additional 599 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Allegiant Travel by 81.8% in the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 504 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Allegiant Travel by 2.0% in the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 23 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Allegiant Travel by 47.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock valued at $166,000 after purchasing an additional 402 shares in the last quarter. Institutional investors and hedge funds own 85.93% of the company’s stock.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of Allegiant Travel stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $167.18, for a total transaction of $30,457,186.76. Following the completion of the sale, the chief executive officer now directly owns 3,071,196 shares in the company, valued at $513,442,547.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $148.85, for a total transaction of $148,850.00. Following the sale, the director now owns 2,120 shares of the company’s stock, valued at $315,562. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,568 shares of company stock valued at $48,550,676. Company insiders own 22.00% 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.

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

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