Allegiant Travel Company

Allegiant Travel Company's (ALGT - Snapshot Report) share price has continued to rally through the last few turbulent weeks in the market, recently breaking above a key level of resistance and closing in higher territory.

Third-Quarter Results

This recent price strength comes on the heels of the company's strong third-quarter results, reported on Oct 21. Revenue was up 35% to $116.9 million. Income was down year-over year, to $8.1 million from $9.5 million, but crude's plunge over the last few months will help the company cut costs on fuel.

Estimates

Analysts remain bullish on the company, with the current-year estimate up to $1.39 per share from $1.09 60 days ago. The next-year estimate is extremely bullish, pegged at $3.03 per share, a 119% earnings growth projection.

The Chart

Shares of ALGT recently cleared a key level of resistance at $42 and closed in higher territory. This stock is deep in the green on the year, having nicely weathered the volatility in the energy markets. Take a look at the chart below.

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Read the full analyst report on ALGT