Allegiant Travel (NASDAQ:ALGT) Reaches New 1-Year High – What’s Next?

Shares of Allegiant Travel Company (NASDAQ:ALGT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $118.04 and last traded at $116.5420, with a volume of 76423 shares trading hands. The stock had previously closed at $114.20.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Bank of America raised their target price on Allegiant Travel from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegiant Travel in a report on Friday, May 29th. JPMorgan Chase & Co. started coverage on Allegiant Travel in a research report on Wednesday. They issued an “overweight” rating and a $156.00 price objective on the stock. Zacks Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, UBS Group raised their price target on Allegiant Travel from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.75.

Allegiant Travel Stock Up 1.3%

The company’s fifty day simple moving average is $87.96 and its 200 day simple moving average is $89.38. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $2.20 billion, a PE ratio of -59.58, a price-to-earnings-growth ratio of 0.62 and a beta of 1.51.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Thursday, April 30th. The transportation company reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.37. The firm 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 for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 EPS. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. Analysts anticipate that Allegiant Travel Company will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Balyasny Asset Management L.P. purchased a new position in Allegiant Travel during the 4th quarter valued at about $16,405,000. Assenagon Asset Management S.A. bought a new position in shares of Allegiant Travel during the first quarter valued at approximately $11,781,000. Principal Financial Group Inc. increased its stake in shares of Allegiant Travel by 151.1% during the first quarter. Principal Financial Group Inc. now owns 161,227 shares of the transportation company’s stock valued at $13,066,000 after purchasing an additional 97,010 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Allegiant Travel by 15.4% during the third quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock valued at $33,380,000 after purchasing an additional 73,360 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Allegiant Travel by 148.1% during the second quarter. Bank of America Corp DE now owns 118,896 shares of the transportation company’s stock valued at $6,533,000 after purchasing an additional 70,982 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.