Allegiant Travel (NASDAQ:ALGT) Trading Down 6.8% – Here’s What Happened

Shares of Allegiant Travel Company (NASDAQ:ALGT) dropped 6.8% on Thursday . The company traded as low as $91.47 and last traded at $91.5480. Approximately 38,981 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 567,791 shares. The stock had previously closed at $98.28.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $98.00 to $156.00 in a research report on Friday, June 26th. The Goldman Sachs Group raised their target price on shares of Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Morgan Stanley lifted their target price on shares of Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, UBS Group raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Wednesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.08.

Allegiant Travel Stock Performance

The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -47.36, a PEG ratio of 0.26 and a beta of 1.51. The stock has a fifty day moving average price of $96.77 and a two-hundred day moving average price of $91.79. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.52.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Thursday, April 30th. The transportation company reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.37. The business had revenue of $732.43 million for 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 was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 earnings per share. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. As a group, analysts forecast that Allegiant Travel Company will post 7.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised 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 buying an additional 377 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Allegiant Travel during the second quarter worth approximately $42,000. Signaturefd LLC grew its stake 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. NewEdge Advisors LLC grew its stake in Allegiant Travel by 43.7% in the 2nd 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. Finally, iSAM Funds UK Ltd acquired a new position in Allegiant Travel in the 3rd quarter valued at $69,000. 85.81% of the stock is owned by institutional investors and hedge funds.

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.