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Allegiant Travel (ALGT) Gains As Market Dips: What You Should Know

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Allegiant Travel (ALGT - Free Report) closed at $87.96 in the latest trading session, marking a +1.94% move from the prior day. This move outpaced the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.

Coming into today, shares of the travel services company had lost 15.99% in the past month. In that same time, the Transportation sector lost 5.36%, while the S&P 500 gained 0.64%.

Investors will be hoping for strength from Allegiant Travel as it approaches its next earnings release. In that report, analysts expect Allegiant Travel to post earnings of $0.68 per share. This would mark year-over-year growth of 225.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $589.11 million, up 5.14% from the year-ago period.

ALGT's full-year Zacks Consensus Estimates are calling for earnings of $10.04 per share and revenue of $2.56 billion. These results would represent year-over-year changes of +220.77% and +11.13%, respectively.

Investors might also notice recent changes to analyst estimates for Allegiant Travel. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.54% lower. Allegiant Travel is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Allegiant Travel is holding a Forward P/E ratio of 8.59. This valuation marks a premium compared to its industry's average Forward P/E of 8.48.

The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on

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