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Allegiant Travel (ALGT) to Have a New CEO From September
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Allegiant Travel Company’s (ALGT - Free Report) current chief executive officer or CEO, Maurice J. Gallagher, will retire effective Sep 1, 2024. Gallagher will be succeeded by the current president, Gregory C. Anderson. Apart from the elevation to the top spot, Anderson will continue as the president of the airline.
Anderson will join the board in September. Gallagher will continue to serve Allegiant as the board’s executive chairman. He, who served Allegiant as CEO for nearly a quarter of a century, is the company’s largest individual stakeholder.
Gallagher’s successor, Anderson, is also hugely experienced, having joined ALGT in 2010. He has occupied many leadership positions in his tenure and was instrumental in guiding the company through the COVID-19 phase, which represented one of the most financially challenging times for the airline industry. Given Anderson’s vast experience, the company is hopeful that his appointment as the CEO will yield the desired results.
Price Performance
Shares of Allegiant have lost 40.2% on a year-to-date basis compared to itsindustry’s 9.7% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Allegiant currently carries a Zacks Rank #3 (Hold).
SkyWest is being aided by the upbeat air travel demand scenario. Efforts to expand its fleet also bode well.
SKYW has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have surged 58% on a year-to-date basis.
Expeditors is based in Seattle, WA. The freight forwarder’s efforts to reward its shareholders through dividends and buybacks are commendable. EXPD’s liquidity position is encouraging.
The Zacks Consensus Estimate for second-quarter 2024 earnings has been revised 2.5% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average negative earnings surprise being 3.44%.
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Allegiant Travel (ALGT) to Have a New CEO From September
Allegiant Travel Company’s (ALGT - Free Report) current chief executive officer or CEO, Maurice J. Gallagher, will retire effective Sep 1, 2024. Gallagher will be succeeded by the current president, Gregory C. Anderson. Apart from the elevation to the top spot, Anderson will continue as the president of the airline.
Anderson will join the board in September. Gallagher will continue to serve Allegiant as the board’s executive chairman. He, who served Allegiant as CEO for nearly a quarter of a century, is the company’s largest individual stakeholder.
Gallagher’s successor, Anderson, is also hugely experienced, having joined ALGT in 2010. He has occupied many leadership positions in his tenure and was instrumental in guiding the company through the COVID-19 phase, which represented one of the most financially challenging times for the airline industry. Given Anderson’s vast experience, the company is hopeful that his appointment as the CEO will yield the desired results.
Price Performance
Shares of Allegiant have lost 40.2% on a year-to-date basis compared to its industry’s 9.7% growth.
Zacks Rank & Stocks to Consider
Allegiant currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are SkyWest (SKYW - Free Report) and Expeditors International of Washington (EXPD - Free Report) . Both stocks currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
SkyWest is being aided by the upbeat air travel demand scenario. Efforts to expand its fleet also bode well.
SKYW has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have surged 58% on a year-to-date basis.
Expeditors is based in Seattle, WA. The freight forwarder’s efforts to reward its shareholders through dividends and buybacks are commendable. EXPD’s liquidity position is encouraging.
The Zacks Consensus Estimate for second-quarter 2024 earnings has been revised 2.5% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average negative earnings surprise being 3.44%.