Allegiant Travel Company (NASDAQ: ALGT) stock jumped 4.42% on Wednesday to $80.62 against a previous-day closing price of $77.21. With 0.18 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.27 million shares. During the session, the Airlines company that operates in wider Industrials sector, reached to the highest price of $81.96 whereas the lowest price it dropped to was $77.14. The 52-week range on ALGT shows that it touched its highest point at $196.66 and its lowest point at $63.78 during that stretch. It currently has a 1-year price target of $114.33. Beta for the stock currently stands at 1.52.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALGT was up-trending over the past week, with a rise of 0.72%, but this was up by 15.11% over a month. Three-month performance dropped to -19.76% while six-month performance fell -40.28%. The stock lost -56.50% in the past year, while it has lost -56.90% so far this year. A look at the trailing 12-month EPS for ALGT yields -2.19 with Next year EPS estimates of 5.69. For the next quarter, that number is 0.83. This implies an EPS growth rate of 175.30% for this year and 524.12% for next year. EPS is expected to grow by 77.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -8.20%.
Float and Shares Shorts:
At present, 18.01 million ALGT shares are outstanding with a float of 15.58 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.69 million, which was 3.80% higher than short shares on Sep 14, 2022. In addition to Mr. Maurice J. Gallagher Jr. as the firm’s Exec. Chairman, Mr. John T. Redmond serves as its CEO & Director.
Through their ownership of 89.44% of ALGT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.11% of ALGT, in contrast to 35.35% held by mutual funds. Shares owned by individuals account for 33.21%. As the largest shareholder in ALGT with 12.34% of the stake, BlackRock Fund Advisors holds 2,242,593 shares worth 2,242,593. A second-largest stockholder of ALGT, The Vanguard Group, Inc., holds 1,646,339 shares, controlling over 9.06% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in ALGT, holding 1,318,787 shares or 7.25% stake. With a 6.30% stake in ALGT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 1,145,717 shares are owned by the mutual fund manager. The US Global Jets ETF, which owns about 3.62% of ALGT stock, is the second-largest Mutual Fund holder. It holds 657,899 shares valued at 49.38 million. Vanguard Total Stock Market Index holds 2.55% of the stake in ALGT, owning 462,647 shares worth 34.72 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALGT since 12 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALGT analysts setting a high price target of $175.00 and a low target of $85.00, the average target price over the next 12 months is $111.40. Based on these targets, ALGT could surge 117.07% to reach the target high and rise by 5.43% to reach the target low. Reaching the average price target will result in a growth of 38.18% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ALGT will report FY 2022 earnings on 02/01/2023. Analysts have provided yearly estimates in a range of $1.01 being high and $0.34 being low. For ALGT, this leads to a yearly average estimate of $0.80. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Allegiant Travel Company surprised analysts by -$0.07 when it reported -$0.54 EPS against a consensus estimate of -$0.47. The surprise factor in the prior quarter was -$0.45. Based on analyst estimates, the high estimate for the next quarter is $1.05 and the low estimate is $0.31. The average estimate for the next quarter is thus $0.86.
Dividends & Yield:
In terms of dividends, ALGT has a dividend of $2.55 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and ALGT currently yields $0.28. In the past year, ALGT’s dividend yield has been $0.28, but when looking at the stock over the past five years, its yield has been $1.9. Accordingly, ALGT has a current buyback yield of $0.00. This was $0.00 for the TTM, and it was $2.2 for the past five years.
Summary of Insider Activity:
Insiders traded ALGT stock several times over the past three months with 8 Buys and 4 Sells. In these transactions, 74,855 shares were bought while 3,874 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 141,876 while 31,665 shares were sold.