Allegiant Travel Company (ALGT - Free Report) reported impressive traffic numbers for the month of July as air-travel demand improved in the United States. With more and more Americans getting jabbed, the picture is very bright, particularly on a year-over-year basis.
Scheduled traffic (measured in revenue passenger miles) surged 107% from the July 2020 levels. Capacity (measured in available seat miles) for scheduled service increased 29.1% from the July 2020 reading. With the traffic surge outweighing capacity expansion, load factor (% of seats filled by passengers) in July expanded 30.6 points to 81.3% from the year-ago period’s levels. For the total system (including scheduled service and fixed fee contract), Allegiant carried 107.2% more passengers in July 2021 from the year-ago period’s level.
Compared with the July 2019 levels (pre-COVID), scheduled traffic and capacity surged 7.3% and 16.4%, respectively. However, the load factor tanked 6.9 points to 81.3% as increase in traffic was lower than capacity expansion. For the total system, the airline carried 6.1% more passengers in July 2021 from July 2019 levels.
With oil prices shooting up, Allegiant is witnessing a rise in fuel cost per gallon. Fuel price per gallon in July is estimated to have been $2.19 compared with $2.11 for June.
Zacks Rank & Stocks to Consider
Allegiant currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Transportation sector are SkyWest (SKYW - Free Report) , Matson (MATX - Free Report) and Costamare (CMRE - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1Rank stocks here.
Shares of SkyWest, Matson and Costamare have gained 3.2%, 13.4% and 4.9%, respectively, over the past month.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Allegiant Travel Company (ALGT - Free Report) reported impressive traffic numbers for the month of July as air-travel demand improved in the United States. With more and more Americans getting jabbed, the picture is very bright, particularly on a year-over-year basis.
Scheduled traffic (measured in revenue passenger miles) surged 107% from the July 2020 levels. Capacity (measured in available seat miles) for scheduled service increased 29.1% from the July 2020 reading. With the traffic surge outweighing capacity expansion, load factor (% of seats filled by passengers) in July expanded 30.6 points to 81.3% from the year-ago period’s levels. For the total system (including scheduled service and fixed fee contract), Allegiant carried 107.2% more passengers in July 2021 from the year-ago period’s level.
Compared with the July 2019 levels (pre-COVID), scheduled traffic and capacity surged 7.3% and 16.4%, respectively. However, the load factor tanked 6.9 points to 81.3% as increase in traffic was lower than capacity expansion. For the total system, the airline carried 6.1% more passengers in July 2021 from July 2019 levels.
With oil prices shooting up, Allegiant is witnessing a rise in fuel cost per gallon. Fuel price per gallon in July is estimated to have been $2.19 compared with $2.11 for June.
Zacks Rank & Stocks to Consider
Allegiant currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Transportation sector are SkyWest (SKYW - Free Report) , Matson (MATX - Free Report) and Costamare (CMRE - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1Rank stocks here.
Shares of SkyWest, Matson and Costamare have gained 3.2%, 13.4% and 4.9%, respectively, over the past month.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on ALGT - FREE
Get the latest research report on MATX - FREE
Get the latest research report on SKYW - FREE
Get the latest research report on CMRE - FREE