Allegiant Travel (NASDAQ:ALGT) Downgraded by Zacks Research to “Hold”

Allegiant Travel (NASDAQ:ALGT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Susquehanna dropped their target price on shares of Allegiant Travel from $132.00 to $110.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Melius Research raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Tuesday, July 7th. Wall Street Zen downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Morgan Stanley increased their price objective on Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of “Moderate Buy” and an average target price of $125.77.

Allegiant Travel Trading Up 0.6%

ALGT opened at $78.64 on Tuesday. Allegiant Travel has a one year low of $57.11 and a one year high of $123.63. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.83 and a quick ratio of 0.80. The business has a 50 day simple moving average of $89.69 and a two-hundred day simple moving average of $88.49. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 55.77, a PEG ratio of 0.22 and a beta of 1.50.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.92. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.The firm had revenue of $943.49 million for the quarter, compared to analysts’ expectations of $982.70 million. During the same period in the previous year, the firm earned $1.23 earnings per share. The business’s revenue was up 36.8% compared to the same quarter last year. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. Analysts predict that Allegiant Travel will post 6.83 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. BlackRock Inc. bought a new stake in shares of Allegiant Travel in the 2nd quarter worth $416,591,000. Donald Smith & CO. Inc. purchased a new stake in shares of Allegiant Travel during the second quarter valued at $175,636,000. Bank of New York Mellon Corp purchased a new stake in shares of Allegiant Travel during the second quarter valued at $33,013,000. Wellington Management Group LLP bought a new stake in Allegiant Travel in the 2nd quarter worth about $26,232,000. Finally, U S Global Investors Inc. raised its position in Allegiant Travel by 5.1% in the 1st quarter. U S Global Investors Inc. now owns 299,225 shares of the transportation company’s stock worth $24,249,000 after buying an additional 14,540 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel and aviation company headquartered in Las Vegas, Nevada. Its principal subsidiary, Allegiant Air, operates scheduled and charter passenger flights, primarily connecting smaller regional airports with popular vacation destinations in the United States.

Allegiant Air’s business model emphasizes low base fares and a range of optional services, including baggage, seat selection, priority boarding and other travel-related products. The airline primarily serves leisure travelers and operates routes to destinations such as Florida, Las Vegas, Arizona and other vacation markets, with service designed around demand for leisure travel rather than extensive daily connectivity between major business centers.

Allegiant Travel was established in 1997, and Allegiant Air began scheduled passenger operations in 1999.