Allegiant (ALGT) Falls: Stock Tumbles 8.6%
Allegiant Travel Company (ALGT) saw a big move last session, as the company’s shares fell by nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for ALGT, as the stock is now down by over 16% since Jan 3.
This slump shouldn’t be too much of a surprise to investors, as the airline company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
ALGT currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Investors interested in the airline industry may consider better-ranked stocks like United Continental Holdings, Inc. (UAL), Spirit Airlines, Inc. (SAVE) and Southwest Airlines Co. (LUV). All these stocks carry a Zacks Rank #1 (Strong Buy).
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ALLEGIANT TRAVEL CO (ALGT): Free Stock Analysis Report
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