U.S. Markets closed

Allegiant (ALGT) Posts Impressive October Traffic Statistics

Zacks Equity Research

Allegiant Travel Company ALGT reported impressive traffic figures for October. Traffic for scheduled service, measured in revenue passenger miles (RPMs), inched up 2.2% on a year-over-year basis to 944.54 million. Scheduled capacity, calculated in available seat miles (ASMs), also increased 1.7% to 1.14 billion in the month.

With traffic growth exceeding capacity expansion, load factor (percentage of seats filled with passengers) improved 30 basis points (bps) year over year to 83.1%.

The number of departures for scheduled service climbed 3.7%. However, average stage length (average distance flown per aircraft departure) dipped 2.2% to 838 miles in the month.

Allegiant Travel Company Price

 

Allegiant Travel Company Price

Allegiant Travel Company price | Allegiant Travel Company Quote


Allegiant’s passenger count for scheduled service rose 4.5% in October. The same for total system (including scheduled service and fixed fee contract) ascended 5.2%. Additionally, total system ASMs increased 4% year over year in October. The company's system-wide average fuel cost per gallon was $2.19 in the month compared with $2.11 in September. Allegiant expects fuel cost per gallon of $2.15 for 2019.

Zacks Rank & Other Key Picks

Allegiant carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the same space are Controladora Vuela Compania de Aviacion, S.A.B. de C.V. VLRS, Hawaiian Holdings, Inc. HA and United Airlines Holdings Inc UAL. While Controladora Vuela sports a Zacks Rank#1 (Strong Buy), Hawaiian Holdings and United Airlines carry the same Zacks Rank as Allegiant. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Controladora Vuela, Hawaiian Holdings and United Airlines have rallied more than 100%, 12% and 10%, respectively, so far this year.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Allegiant Travel Company (ALGT) : Free Stock Analysis Report
 
Hawaiian Holdings, Inc. (HA) : Free Stock Analysis Report
 
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
 
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research