Allegiant Travel (NASDAQ:ALGT) Shares Down 9.5% – What’s Next?

Shares of Allegiant Travel Company (NASDAQ:ALGT) fell 9.5% on Wednesday. The stock traded as low as $66.12 and last traded at $65.4680. Approximately 274,965 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 549,865 shares. The stock had previously closed at $72.34.

Analyst Ratings Changes

ALGT has been the subject of several recent research reports. Barclays lowered their price objective on Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Susquehanna reduced their target price on shares of Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Bank of America upped their target price on shares of Allegiant Travel from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Raymond James Financial reiterated a “strong-buy” rating and issued a $110.00 price target on shares of Allegiant Travel in a research note on Wednesday, October 7th. Finally, Citigroup reissued a “buy” rating on shares of Allegiant Travel in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.38.

Allegiant Travel Trading Down 7.4%

The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83. The company has a market cap of $1.83 billion, a P/E ratio of 47.51, a price-to-earnings-growth ratio of 0.25 and a beta of 1.55. The stock has a 50-day moving average of $80.02 and a two-hundred day moving average of $87.60.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.27 by $0.92. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%. The business had revenue of $943.49 million for the quarter, compared to the consensus estimate of $982.70 million. During the same period in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up 36.8% compared to the same quarter last year. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. On average, equities research analysts predict that Allegiant Travel Company will post 5.91 earnings per share for the current year.

Institutional Trading of Allegiant Travel

A number of institutional investors and hedge funds have recently bought and sold shares of ALGT. Global Retirement Partners LLC bought a new position in Allegiant Travel during the second quarter valued at approximately $26,000. Allworth Financial LP purchased a new stake in Allegiant Travel in the second quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Allegiant Travel in the 2nd quarter worth approximately $42,000. Parallel Advisors LLC grew its position in Allegiant Travel by 339.6% in the 1st quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after purchasing an additional 377 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Allegiant Travel by 40.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company’s stock worth $44,000 after purchasing an additional 168 shares during the period. 85.81% of the stock is currently owned by institutional investors.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada, and the parent company of Allegiant Air. Founded in 1997, Allegiant Air operates a low-cost, scheduled airline model designed to connect travelers in smaller and midsize U.S. cities with popular vacation destinations.

Allegiant Air provides passenger air transportation primarily within the United States, serving destinations such as Florida, Arizona, Nevada, California and other leisure markets.