Allegiant Travel (NASDAQ:ALGT) Sets New 52-Week High – Time to Buy?

Allegiant Travel Company (NASDAQ:ALGT)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $118.04 and last traded at $116.5420, with a volume of 76423 shares. The stock had previously closed at $114.20.

Analyst Ratings Changes

Several research firms have recently issued reports on ALGT. UBS Group upped their target price on Allegiant Travel from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Citigroup upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $156.00 in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Allegiant Travel in a research report on Friday, May 29th. Bank of America upped their price objective on Allegiant Travel from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Finally, The Goldman Sachs Group assumed coverage on Allegiant Travel in a research note on Wednesday, June 17th. They set a “buy” rating and a $125.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.36.

Allegiant Travel Trading Up 4.4%

The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.52. The firm has a 50 day moving average of $86.86 and a 200 day moving average of $88.88. The firm has a market cap of $2.20 billion, a PE ratio of -59.89, a P/E/G ratio of 0.61 and a beta of 1.55.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Thursday, April 30th. The transportation company reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.37. The business had revenue of $732.43 million during the quarter, compared to the consensus estimate of $711.01 million. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business posted $2.11 earnings per share. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. Equities analysts anticipate that Allegiant Travel Company will post 3.72 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Parallel Advisors LLC lifted its holdings in 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 purchasing an additional 377 shares during the last quarter. Signaturefd LLC increased its stake in shares of Allegiant Travel by 27.3% in the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after purchasing an additional 117 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Allegiant Travel in the third quarter worth about $69,000. NewEdge Advisors LLC raised its position 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 valued at $67,000 after purchasing an additional 373 shares during the period. Finally, MidFirst Bank bought a new stake in shares of Allegiant Travel in the fourth quarter valued at approximately $114,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Company Profile

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.