This airline’s earnings have been revised upward four times in the past 30 days, and the company beat last quarter’s estimates by five cents.
Allegiant Travel Co. (ALGT)
Shares in Allegiant Travel Co. (ALGT) continue to fly higher as it adds new routes and new airplanes and increases traffic figures. ALGT is on the Best Momentum Stock Performers Heat Map. The list features companies with the highest price return compared with the S&P 500 index.
In August, the airline announced new nonstop jet service on 17 new routes and service to two new cities, San Antonio and Kansas City, Mo. Allegiant also said last month that it had struck an agreement to purchase its 50th Airbus aircraft, an A320, from Airbus. By the end of this year, it said its fleet of Airbus planes will be 25, with 15 A320s and 10 A319s. The remaining 25 committed Airbus aircraft will be delivered through 2018.
Earlier this month, ALGT said revenue passenger miles increased 20%. The airline has been aided by lower fuel costs, it said.
Allegiant focuses on providing travel services to under-served U.S. cities. Over the past three years, its shares have risen more than 262% and the stock carries a 1.55% dividend yield.
ALGT is rated at A+ in the Heat Maps model, making it a strong buy and a stock that should be considered for any well-balanced portfolio.
Mike Burnick, Weiss Stock Ratings Heat Maps, published by Money and Markets, a Division of Weiss Research, Inc., www.weissresearchissues.com/weiss-stock-ratings-heat-maps, 1-800-291-8545, September 17, 2015