Allegiant Travel (ALGT) Stock Sinks As Market Gains: What You Should Know
Allegiant Travel (ALGT) closed the most recent trading day at $80.35, moving -0.69% from the previous trading session. This change lagged the S&P 500's 0.76% gain on the day. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 1.12%.
The travel services company's shares have seen a decrease of 2.06% over the last month, surpassing the Transportation sector's loss of 2.7% and falling behind the S&P 500's gain of 2.5%.
Market participants will be closely following the financial results of Allegiant Travel in its upcoming release. The company plans to announce its earnings on February 5, 2024. On that day, Allegiant Travel is projected to report earnings of -$0.75 per share, which would represent a year-over-year decline of 123.66%. Meanwhile, our latest consensus estimate is calling for revenue of $601.47 million, down 1.65% from the prior-year quarter.
Any recent changes to analyst estimates for Allegiant Travel should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 7.87% higher. Right now, Allegiant Travel possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Allegiant Travel is currently exchanging hands at a Forward P/E ratio of 9.95. This indicates a premium in contrast to its industry's Forward P/E of 8.47.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 33, placing it within the top 14% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
