Here's Why You Should Add ALGT Stock to Your Portfolio Now

Core Viewpoint - Allegiant's efforts to expand its global reach and boost its top line are commendable, leading to impressive share performance, making it a timely investment opportunity [1] Factors Favoring ALGT Stock - The company's shares have surged 91.6% over the past six months, significantly outperforming the industry's 39.2% decline [2] Earnings Estimates and Rankings - The Zacks Consensus Estimate for earnings per share has been revised upward by 185.3% for Q4 2024, with increases of 138.5% and 11.3% for 2024 and 2025 respectively, indicating strong broker confidence [3] - ALGT currently holds a Zacks Rank 2 (Buy), reflecting its positive outlook [3] Industry Performance - Allegiant's industry has a Zacks Industry Rank of 26 out of 250, placing it in the top 10% of Zacks Industries, which is crucial as stock price movements are often tied to industry performance [4] Earnings Surprise History - Allegiant has a strong earnings surprise history, exceeding the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of 57.4% [5] Growth Factors - The company is expanding with 44 new nonstop routes to meet the demand for affordable air travel, targeting popular vacation destinations and underserved markets [6] - Offering one-way fares as low as $39 aligns with its strategy to attract budget-conscious travelers, particularly during peak leisure periods [7] Revenue Initiatives - Allegiant's third bundled product offering has returned to pre-Navitaire take rates, generating an additional$1 in ancillary revenue per passenger [8] - The company is retrofitting over 50 aircraft with the Allegiant Extra premium product, expected to add $3 in ancillary revenue per passenger [10] - The Allegiant Allways Visa card is projected to exceed$140 million in total bank remuneration in 2024, with continued growth anticipated in 2025 [10]