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Allegiant (ALGT) to Introduce New Routes for Spring Travel
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With air-travel demand improving in the United States as more people are getting vaccinated every day, Allegiant Travel Company (ALGT - Free Report) intends to add more options for passengers this spring with its latest network expansion to leisure destinations in places like Arizona and Florida. The carrier announced nine new non-stop routes from its bases in the United States, offering more options for leisure travelers.
This move comes as Allegiant prepares for a busy spring season, despite the looming threat of the COVID-19 Omicron variant. Allegiant's senior vice president of revenue and planning, Drew Wells, stated, “Whether travelers are looking to explore the desert southwest or take in the beaches of Florida, we've got the flights for them – free from the hassle of stops and layovers – at a price they can afford.”
From Knoxville, TN, the ultra-low-cost carrier (ULCC) will fly to Phoenix, AZ, from Feb 16 and to Minneapolis, MN, from Mar 9. The carrier will also start a route between Phoenix-Mesa Gateway and Toledo, OH, from Mar 9. Allegiant will launch a route between Clarksburg, WV, and St. Pete-Clearwater, FL, from Mar 11. The ULCC will commence new service from Appleton, WI, to three destinations — Denver, CO, from Mar 11; Fort Lauderdale, FL, from Mar 10; and Sarasota, FL, from Mar 11. From Flint, MI, Allegiant will launch flights to Boston, MA, from Mar 10 and to Jacksonville, FL, from Mar 11.
Interestingly, customers can avail the services for one-way fares as low as $39, $49 and $59. However, the offer was limited to those who had purchased tickets by Dec 8, 2021, to travel by Aug 15, 2022. Such lucrative steps are expected to attract more traffic and boost the top line.
Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Landstar System, Inc. (LSTR - Free Report) and C.H. Robinson Worldwide, Inc. (CHRW - Free Report) .
The long-term expected earnings per share (three to five years) growth rate for Knight-Swift is pegged at 15%. KNX is benefitting from an improvement in the adjusted operating ratio. Notably, the adjusted operating ratio improved to 82.8% in the first nine months of 2021 compared with 86.6% reported in the first nine months of 2020. In third-quarter 2021, the metric improved to 81.3% from 83.9% a year ago.
This uptick in adjusted operating ratios is primarily driven by higher revenues in the Trucking, Logistics and Intermodal segments. Lower the value of the metric, the better. KNX has surged 45.2% in the past year. Knight-Swift sports a Zacks Rank #1.
The long-term expected earnings per share (three to five years) growth rate for Landstar is pegged at 12%. LSTR is benefitting from gradual recovery in the economy and freight market conditions in the United States.
LSTR’s top and the bottom line increased substantially in each quarter from the third quarter of 2020, owing to robust revenues in the primary segment — truck transportation. LSTR has surged 23.4% in the past year. Landstar carries a Zacks Rank #2 (Buy).
The long-term expected earnings per share (three to five years) growth rate for C.H. Robinson is pegged at 9%. CHRW benefits from higher pricing and volumes across most of its service lines. Total revenues jumped 42.4% year over year in the first nine months of 2021, with higher revenues across all the segments.
CHRW’s measures to reward its shareholders are encouraging. Driven by the tailwinds, the stock has moved up 7.5% in the past year. C.H. Robinson carries a Zacks Rank #2.
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Allegiant (ALGT) to Introduce New Routes for Spring Travel
With air-travel demand improving in the United States as more people are getting vaccinated every day, Allegiant Travel Company (ALGT - Free Report) intends to add more options for passengers this spring with its latest network expansion to leisure destinations in places like Arizona and Florida. The carrier announced nine new non-stop routes from its bases in the United States, offering more options for leisure travelers.
This move comes as Allegiant prepares for a busy spring season, despite the looming threat of the COVID-19 Omicron variant. Allegiant's senior vice president of revenue and planning, Drew Wells, stated, “Whether travelers are looking to explore the desert southwest or take in the beaches of Florida, we've got the flights for them – free from the hassle of stops and layovers – at a price they can afford.”
From Knoxville, TN, the ultra-low-cost carrier (ULCC) will fly to Phoenix, AZ, from Feb 16 and to Minneapolis, MN, from Mar 9. The carrier will also start a route between Phoenix-Mesa Gateway and Toledo, OH, from Mar 9. Allegiant will launch a route between Clarksburg, WV, and St. Pete-Clearwater, FL, from Mar 11. The ULCC will commence new service from Appleton, WI, to three destinations — Denver, CO, from Mar 11; Fort Lauderdale, FL, from Mar 10; and Sarasota, FL, from Mar 11. From Flint, MI, Allegiant will launch flights to Boston, MA, from Mar 10 and to Jacksonville, FL, from Mar 11.
Interestingly, customers can avail the services for one-way fares as low as $39, $49 and $59. However, the offer was limited to those who had purchased tickets by Dec 8, 2021, to travel by Aug 15, 2022. Such lucrative steps are expected to attract more traffic and boost the top line.
Zacks Rank & Stocks to Consider
Allegiant currently carries a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Landstar System, Inc. (LSTR - Free Report) and C.H. Robinson Worldwide, Inc. (CHRW - Free Report) .
The long-term expected earnings per share (three to five years) growth rate for Knight-Swift is pegged at 15%. KNX is benefitting from an improvement in the adjusted operating ratio. Notably, the adjusted operating ratio improved to 82.8% in the first nine months of 2021 compared with 86.6% reported in the first nine months of 2020. In third-quarter 2021, the metric improved to 81.3% from 83.9% a year ago.
This uptick in adjusted operating ratios is primarily driven by higher revenues in the Trucking, Logistics and Intermodal segments. Lower the value of the metric, the better. KNX has surged 45.2% in the past year. Knight-Swift sports a Zacks Rank #1.
The long-term expected earnings per share (three to five years) growth rate for Landstar is pegged at 12%. LSTR is benefitting from gradual recovery in the economy and freight market conditions in the United States.
LSTR’s top and the bottom line increased substantially in each quarter from the third quarter of 2020, owing to robust revenues in the primary segment — truck transportation. LSTR has surged 23.4% in the past year. Landstar carries a Zacks Rank #2 (Buy).
The long-term expected earnings per share (three to five years) growth rate for C.H. Robinson is pegged at 9%. CHRW benefits from higher pricing and volumes across most of its service lines. Total revenues jumped 42.4% year over year in the first nine months of 2021, with higher revenues across all the segments.
CHRW’s measures to reward its shareholders are encouraging. Driven by the tailwinds, the stock has moved up 7.5% in the past year. C.H. Robinson carries a Zacks Rank #2.