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Allegiant Travel (ALGT) Appoints John Redmond as the New CEO
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Allegiant Travel Company (ALGT - Free Report) announced that John Redmond (current president of Allegiant) will take up the position of CEO (chief executive officer). Redmond will replace Maurice J. Gallagher, who has served ALGT for more than a decade. Also, Gallagher will take up the role of executive chairman of the board. This transition will be effective from Jun 1, 2022.
From 2001, Gallagher has transformed Allegiant into one of the most profitable airlines in the world with more than 110 aircraft, operating 600 plus routes across more than 130 cities in the United States.
Gallagher stated, “I am thrilled to announce John Redmond as the next CEO of Allegiant. As a fifteen-year Allegiant board member, and president of the company since 2016, no one understands the vision and strategic direction of Allegiant better than John”.
Redmond has served ALGT’s board since 2007 (except for a year-long hiatus in 2013 as he pursued an opportunity in Australia). His elevation to the top post follows more than five years as president of Allegiant, where he was responsible for all commercial and operational aspects of the company.
Given Redmond’s vast experience, the company is hopeful that his appointment as the new CEO will yield the desired results and help the carrier expand more and fully recover from the COVID-led crisis.
The long-term expected earnings per share (three to five years) growth rate for J.B. Hunt is pegged at 15%. J.B. Hunt is benefiting from strong performances in the Dedicated Contract Services, Truckload and Final Mile Services segments.
We are impressed by the company’s efforts to reward shareholders through dividend payments and share repurchases. Driven by the tailwinds, the stock has increased 25.7% in the past year. JBHT currently sports a Zacks Rank #1.
The long-term expected earnings per share (three to five years) growth rate for FedEx is pegged at 12%. FDX is benefitting from a surge in e-commerce demand amid the pandemic.
FDX exited first-quarter fiscal 2022 with cash and equivalents of $6,853 million, higher than its current debt of $125 million. FedEx currently carries a Zacks Rank #2.
The long-term expected earnings per share (three to five years) growth rate for Schneider is pegged at 20.7%. SNDR benefits from strong performance in the Intermodal and Logistics units.
SNDR’s third-quarter cash balance is also encouraging. Driven by the tailwinds, the stock has moved up 10% in the past year. Schneider currently flaunts a Zacks Rank #1.
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Allegiant Travel (ALGT) Appoints John Redmond as the New CEO
Allegiant Travel Company (ALGT - Free Report) announced that John Redmond (current president of Allegiant) will take up the position of CEO (chief executive officer). Redmond will replace Maurice J. Gallagher, who has served ALGT for more than a decade. Also, Gallagher will take up the role of executive chairman of the board. This transition will be effective from Jun 1, 2022.
From 2001, Gallagher has transformed Allegiant into one of the most profitable airlines in the world with more than 110 aircraft, operating 600 plus routes across more than 130 cities in the United States.
Gallagher stated, “I am thrilled to announce John Redmond as the next CEO of Allegiant. As a fifteen-year Allegiant board member, and president of the company since 2016, no one understands the vision and strategic direction of Allegiant better than John”.
Redmond has served ALGT’s board since 2007 (except for a year-long hiatus in 2013 as he pursued an opportunity in Australia). His elevation to the top post follows more than five years as president of Allegiant, where he was responsible for all commercial and operational aspects of the company.
Given Redmond’s vast experience, the company is hopeful that his appointment as the new CEO will yield the desired results and help the carrier expand more and fully recover from the COVID-led crisis.
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 J.B. Hunt Transport Services, Inc. (JBHT - Free Report) , FedEx Corporation (FDX - Free Report) and Schneider National (SNDR - Free Report) .
The long-term expected earnings per share (three to five years) growth rate for J.B. Hunt is pegged at 15%. J.B. Hunt is benefiting from strong performances in the Dedicated Contract Services, Truckload and Final Mile Services segments.
We are impressed by the company’s efforts to reward shareholders through dividend payments and share repurchases. Driven by the tailwinds, the stock has increased 25.7% in the past year. JBHT currently sports a Zacks Rank #1.
The long-term expected earnings per share (three to five years) growth rate for FedEx is pegged at 12%. FDX is benefitting from a surge in e-commerce demand amid the pandemic.
FDX exited first-quarter fiscal 2022 with cash and equivalents of $6,853 million, higher than its current debt of $125 million. FedEx currently carries a Zacks Rank #2.
The long-term expected earnings per share (three to five years) growth rate for Schneider is pegged at 20.7%. SNDR benefits from strong performance in the Intermodal and Logistics units.
SNDR’s third-quarter cash balance is also encouraging. Driven by the tailwinds, the stock has moved up 10% in the past year. Schneider currently flaunts a Zacks Rank #1.