Allegiant Travel (NASDAQ:ALGT) Stock Price Up 7.4% – Time to Buy?

Allegiant Travel Company (NASDAQ:ALGT)’s stock price traded up 7.4% during mid-day trading on Tuesday. The company traded as high as $69.03 and last traded at $71.2060. 39,493 shares were traded during trading, a decline of 93% from the average daily volume of 547,365 shares. The stock had previously closed at $66.31.

Analyst Ratings Changes

Several brokerages recently commented on ALGT. The Goldman Sachs Group boosted their price target on shares of Allegiant Travel from $125.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. UBS Group raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and cut their target price for the stock from $111.00 to $107.00 in a research note on Sunday, September 13th. Barclays reduced their price target on shares of Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $110.00 price target on shares of Allegiant Travel in a research note on Wednesday, October 7th. Finally, Melius Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.38.

Allegiant Travel Stock Up 4.1%

The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $77.70 and a two-hundred day simple moving average of $87.24. The company has a market cap of $1.89 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 0.22 and a beta of 1.55.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.92. The business 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 company’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. As a group, equities research analysts predict that Allegiant Travel Company will post 5.91 earnings per share for the current year.

Institutional Trading of Allegiant Travel

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Allegiant Travel in the 2nd quarter worth approximately $416,591,000. Donald Smith & CO. Inc. purchased a new stake in shares of Allegiant Travel in the second quarter valued at approximately $175,636,000. Bank of New York Mellon Corp acquired a new stake in shares of Allegiant Travel in the second quarter valued at approximately $33,013,000. Wellington Management Group LLP acquired a new stake in shares of Allegiant Travel in the second quarter valued at approximately $26,232,000. Finally, U S Global Investors Inc. lifted its position in Allegiant Travel by 5.1% during the first 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 in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

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.