Allegiant Travel (NASDAQ:ALGT) Shares Gap Up – Still a Buy?

Allegiant Travel Company (NASDAQ:ALGT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $81.63, but opened at $85.46. Allegiant Travel shares last traded at $82.10, with a volume of 31,391 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALGT. Susquehanna cut their target price on Allegiant Travel from $132.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Morgan Stanley lifted their price target on Allegiant Travel from $100.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. UBS Group upped their price objective on Allegiant Travel from $103.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Zacks Research upgraded Allegiant Travel from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Citigroup raised Allegiant Travel from a “neutral” rating to a “buy” rating and raised their target price for the company from $98.00 to $156.00 in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.38.

Allegiant Travel Stock Up 0.3%

The company has a market cap of $2.26 billion, a PE ratio of 58.58, a P/E/G ratio of 0.23 and a beta of 1.53. The firm has a 50-day simple moving average of $99.83 and a two-hundred day simple moving average of $91.87. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.92. The business had revenue of $943.49 million for the quarter, compared to the consensus estimate of $982.70 million. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.The business’s revenue was up 36.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. Research analysts anticipate that Allegiant Travel Company will post 6.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth about $26,000. Allworth Financial LP purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $26,000. Parallel Advisors LLC lifted its stake in shares of Allegiant Travel by 339.6% during the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock valued at $40,000 after buying an additional 377 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Allegiant Travel during the second quarter worth approximately $42,000. Finally, NewEdge Advisors LLC grew its stake in Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after acquiring an additional 373 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low?cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price?sensitive leisure travelers, Allegiant Air operates a point?to?point network that avoids the traditional hub?and?spoke model, providing non?stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.