Allegiant Travel (ALGT) Exceeds Market Returns: Some Facts to Consider
Allegiant Travel (ALGT) closed the latest trading day at $78.99, indicating a +0.91% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq appreciated by 0.1%.
Coming into today, shares of the travel services company had gained 3.7% in the past month. In that same time, the Transportation sector gained 2.25%, while the S&P 500 gained 2.75%.
The investment community will be closely monitoring the performance of Allegiant Travel in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$1.02, marking a 132.18% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $599.99 million, indicating a 1.89% decline compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Allegiant Travel. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.09% lower. As of now, Allegiant Travel holds a Zacks Rank of #5 (Strong Sell).
Investors should also note Allegiant Travel's current valuation metrics, including its Forward P/E ratio of 10.39. This denotes a premium relative to the industry's average Forward P/E of 8.25.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
