Trade Report: The Analysts Issue Forecasts for Allegiant Travel Co.’s Q3 2016 Earnings (ALGT)

The Analysts Issue Forecasts for Allegiant Travel Co.’s Q3 2016 Earnings (ALGT)

Allegiant Travel Co. (NASDAQ:ALGT) – Investment analysts at Imperial Capital issued their Q3 2016 earnings estimates for Allegiant Travel in a research note issued on Friday. Imperial Capital analyst B. Mcadoo anticipates that the brokerage will post earnings per share of $2.58 for the quarter. Imperial Capital has a “Outperform” rating and a $164.00 price target on the stock. Imperial Capital also issued estimates for Allegiant Travel’s FY2016 earnings at $13.10 EPS, Q1 2017 earnings at $3.57 EPS, Q2 2017 earnings at $3.14 EPS, Q3 2017 earnings at $2.26 EPS, Q4 2017 earnings at $2.37 EPS, FY2017 earnings at $11.35 EPS, FY2018 earnings at $11.56 EPS and FY2019 earnings at $6.33 EPS.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Friday, July 29th. The company reported $3.68 EPS for the quarter, topping the Zacks’ consensus estimate of $3.55 by $0.13. Allegiant Travel had a return on equity of 64.40% and a net margin of 17.94%. The company had revenue of $344.90 million for the quarter, compared to analysts’ expectations of $343.11 million. During the same period in the previous year, the firm earned $3.18 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year.

ALGT has been the subject of several other reports. Zacks Investment Research cut Allegiant Travel from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 24th. Raymond James Financial Inc. upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Tuesday, June 14th. Stifel Nicolaus reduced their price objective on Allegiant Travel from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Buckingham Research upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Friday, September 23rd. Finally, Cowen and Company reduced their price objective on Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating for the company in a research note on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $177.92.

Allegiant Travel (NASDAQ:ALGT) opened at 148.81 on Monday. The stock has a market capitalization of $2.44 billion, a PE ratio of 10.60 and a beta of -0.09. The company has a 50-day moving average price of $136.69 and a 200-day moving average price of $145.98. Allegiant Travel has a 12-month low of $121.70 and a 12-month high of $221.87.

Hedge funds have recently modified their holdings of the company. RK Asset Management LLC raised its stake in shares of Allegiant Travel by 4.6% in the third quarter. RK Asset Management LLC now owns 50,990 shares of the company’s stock worth $6,734,000 after buying an additional 2,258 shares in the last quarter. Capital Investment Services of America Inc. raised its stake in shares of Allegiant Travel by 9.8% in the third quarter. Capital Investment Services of America Inc. now owns 53,116 shares of the company’s stock worth $7,015,000 after buying an additional 4,735 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth about $382,000. Public Employees Retirement System of Ohio raised its stake in shares of Allegiant Travel by 3.0% in the second quarter. Public Employees Retirement System of Ohio now owns 15,387 shares of the company’s stock worth $2,331,000 after buying an additional 452 shares in the last quarter. Finally, A.R.T. Advisors LLC raised its stake in shares of Allegiant Travel by 739.6% in the second quarter. A.R.T. Advisors LLC now owns 11,906 shares of the company’s stock worth $1,803,000 after buying an additional 10,488 shares in the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

Related posts

Leave a Comment