Barclays Upgrades Allegiant Travel (NASDAQ:ALGT) to “Strong-Buy”

Allegiant Travel (NASDAQ:ALGT) was upgraded by investment analysts at Barclays to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on ALGT. UBS Group upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating in a report on Wednesday. Wall Street Zen upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Morgan Stanley increased their target price on Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegiant Travel in a report on Friday, May 29th. Finally, Citigroup raised Allegiant Travel from a “neutral” rating to a “buy” rating and boosted their price target for the company from $98.00 to $156.00 in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.08.

Allegiant Travel Stock Down 2.6%

ALGT opened at $108.26 on Wednesday. Allegiant Travel has a 12 month low of $42.56 and a 12 month high of $123.63. The business has a 50-day moving average of $91.34 and a two-hundred day moving average of $90.36. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -54.13, a price-to-earnings-growth ratio of 0.31 and a beta of 1.51.

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 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 business had revenue of $732.43 million for the quarter, compared to analysts’ expectations of $711.01 million. During the same period last year, the company earned $2.11 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. On average, research analysts expect that Allegiant Travel will post 7.05 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently modified their holdings of ALGT. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Allegiant Travel during the 2nd quarter valued at about $42,000. Parallel Advisors LLC boosted its holdings 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 acquiring an additional 377 shares during the period. Signaturefd LLC boosted its holdings in Allegiant Travel by 27.3% in the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after acquiring an additional 117 shares during the period. iSAM Funds UK Ltd acquired a new stake in Allegiant Travel in the third quarter valued at approximately $69,000. Finally, NewEdge Advisors LLC grew its position in 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 acquiring an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.