The Goldman Sachs Group Upgrades Allegiant Travel (NASDAQ:ALGT) to “Strong-Buy”

Allegiant Travel (NASDAQ:ALGT) was upgraded by stock analysts at The Goldman Sachs Group to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on ALGT. UBS Group increased their price objective on Allegiant Travel from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Citigroup lowered their target price on Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegiant Travel in a report on Friday, May 29th. Zacks Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, Bank of America upped their target price on Allegiant Travel from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average target price of $105.18.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $95.89 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $1.77 billion, a P/E ratio of -47.94, a P/E/G ratio of 0.48 and a beta of 1.55. Allegiant Travel has a 12 month low of $42.56 and a 12 month high of $118.00. The business’s 50-day moving average is $83.51 and its 200 day moving average is $87.33.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data 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 positive return on equity of 10.07% and a negative net margin of 1.30%.The company had revenue of $732.43 million for the quarter, compared to analysts’ expectations of $711.01 million. During the same period in the previous year, the firm posted $2.11 earnings per share. The firm’s revenue for the quarter 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, equities research analysts forecast that Allegiant Travel will post 3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently modified their holdings of ALGT. Parallel Advisors LLC lifted its position in 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 acquiring an additional 377 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Allegiant Travel by 35.6% in the first quarter. The Manufacturers Life Insurance Company now owns 5,942 shares of the transportation company’s stock valued at $482,000 after buying an additional 1,560 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Allegiant Travel in the first quarter valued at about $615,000. Entropy Technologies LP purchased a new position in Allegiant Travel in the first quarter valued at about $461,000. Finally, Renaissance Technologies LLC grew its position in shares of Allegiant Travel by 40.9% in the first quarter. Renaissance Technologies LLC now owns 91,000 shares of the transportation company’s stock valued at $7,375,000 after purchasing an additional 26,400 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.