Allegiant Travel (NASDAQ:ALGT) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other equities research analysts have also commented on ALGT. Citigroup upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $156.00 in a research note on Friday, June 26th. The Goldman Sachs Group boosted their price target on Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Bank of America boosted their price target on Allegiant Travel from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Melius Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Tuesday, July 7th. Finally, UBS Group raised their price objective on Allegiant Travel from $103.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.00.

Allegiant Travel Stock Performance

ALGT opened at $84.30 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 59.79, a PEG ratio of 0.23 and a beta of 1.53. The company’s 50 day moving average is $101.17 and its 200 day moving average is $92.47. Allegiant Travel has a 12-month low of $53.70 and a 12-month high of $123.63.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, August 4th. The transportation company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.92. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The business had revenue of $943.49 million during the quarter, compared to analysts’ expectations of $982.70 million. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue was up 36.8% on a year-over-year basis. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. On average, equities research analysts predict that Allegiant Travel will post 7.14 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in Allegiant Travel in the 2nd quarter worth $26,000. Allworth Financial LP purchased a new position in shares of Allegiant Travel in the second quarter valued at about $26,000. Parallel Advisors LLC lifted its position in shares of Allegiant Travel by 339.6% in the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 377 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Allegiant Travel in the second quarter worth about $42,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Allegiant Travel by 43.7% in the second 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. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.