Allegiant Travel (NASDAQ:ALGT) Stock Price Down 9.5% – What’s Next?

Shares of Allegiant Travel Company (NASDAQ:ALGT) were down 9.5% during mid-day trading on Wednesday. The stock traded as low as $66.12 and last traded at $65.4680. Approximately 274,965 shares changed hands during trading, a decline of 50% from the average session volume of 549,865 shares. The stock had previously closed at $72.34.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $110.00 price objective on shares of Allegiant Travel in a research note on Wednesday, October 7th. Melius Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Tuesday, July 7th. Citigroup reaffirmed a “buy” rating on shares of Allegiant Travel in a research note on Tuesday, October 6th. The Goldman Sachs Group raised their target price on Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. started coverage on Allegiant Travel in a report on Wednesday, July 1st. They set an “overweight” rating and a $156.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Allegiant Travel has a consensus rating of “Moderate Buy” and a consensus price target of $123.38.

Allegiant Travel Price Performance

The firm has a market capitalization of $1.92 billion, a P/E ratio of 49.93, a P/E/G ratio of 0.22 and a beta of 1.55. The business’s fifty day moving average is $78.74 and its 200 day moving average is $87.41. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.92. The firm had revenue of $943.49 million during the quarter, compared to analysts’ expectations of $982.70 million. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The firm’s revenue for the quarter was up 36.8% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. As a group, analysts forecast that Allegiant Travel Company will post 5.91 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently modified their holdings of ALGT. BlackRock Inc. purchased a new stake in shares of Allegiant Travel during the second quarter valued at $416,591,000. Donald Smith & CO. Inc. purchased a new position in Allegiant Travel in the 2nd quarter worth about $175,636,000. Bank of New York Mellon Corp purchased a new position in Allegiant Travel in the 2nd quarter worth about $33,013,000. Wellington Management Group LLP purchased a new position in Allegiant Travel in the 2nd quarter worth about $26,232,000. Finally, U S Global Investors Inc. raised its holdings in Allegiant Travel by 5.1% during 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 period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada, and the parent company of Allegiant Air. Founded in 1997, Allegiant Air operates a low-cost, scheduled airline model designed to connect travelers in smaller and midsize U.S. cities with popular vacation destinations.

Allegiant Air provides passenger air transportation primarily within the United States, serving destinations such as Florida, Arizona, Nevada, California and other leisure markets.