Allegiant Travel (NASDAQ:ALGT) Shares Gap Up After Analyst Upgrade

Allegiant Travel Company (NASDAQ:ALGT)’s share price gapped up prior to trading on Tuesday after Melius Research upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $115.62, but opened at $119.80. Melius Research now has a $160.00 price target on the stock. Allegiant Travel shares last traded at $114.3520, with a volume of 63,582 shares traded.

Several other analysts have also issued reports on ALGT. 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. Zacks Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Susquehanna raised their price objective on shares of Allegiant Travel from $85.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group upped their target price on shares of Allegiant Travel from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Finally, Citigroup upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating and increased their price objective for the company from $98.00 to $156.00 in a research report on Friday, June 26th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $124.23.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of Allegiant Travel by 339.6% during the 1st 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 raised its stake in Allegiant Travel by 27.3% in the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after buying an additional 117 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Allegiant Travel in the third quarter worth about $69,000. NewEdge Advisors LLC boosted its holdings in 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 in the last quarter. Finally, MidFirst Bank purchased a new stake in shares of Allegiant Travel during the fourth quarter worth about $114,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Down 1.1%

The company’s 50-day moving average is $90.12 and its 200 day moving average is $90.02. The stock has a market capitalization of $2.11 billion, a PE ratio of -57.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.52.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Thursday, April 30th. The transportation company reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.37. Allegiant Travel had a negative net margin of 1.30% and a positive return on equity of 10.07%. The company had revenue of $732.43 million for the quarter, compared to the consensus estimate of $711.01 million. During the same quarter in the previous year, the firm earned $2.11 EPS. Allegiant Travel’s revenue was up 4.8% compared to the same quarter last year. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. As a group, analysts anticipate that Allegiant Travel Company will post 4.43 EPS for the current year.

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.