Allegiant Travel (NASDAQ:ALGT) Shares Gap Down – Should You Sell?

Allegiant Travel Company (NASDAQ:ALGT) gapped down before the market opened on Wednesday. The stock had previously closed at $73.59, but opened at $71.59. Allegiant Travel shares last traded at $72.7980, with a volume of 30,529 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings upgraded Allegiant Travel from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen cut Allegiant Travel from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Citigroup restated a “buy” rating on shares of Allegiant Travel in a report on Tuesday, October 6th. Barclays lowered their price objective on Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $110.00 target price on shares of Allegiant Travel in a research note on Wednesday, October 7th. One research 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.38.

Allegiant Travel Trading Up 0.8%

The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.38. The business’s fifty day moving average is $75.65 and its 200-day moving average is $87.75. The stock has a market capitalization of $1.99 billion, a PE ratio of 51.67, a P/E/G ratio of 0.25 and a beta of 1.55.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.92. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The company had revenue of $943.49 million for the quarter, compared to analyst estimates of $982.70 million. During the same quarter last year, the business earned $1.23 EPS. Allegiant Travel’s revenue for the quarter was up 36.8% on a year-over-year basis. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. As a group, analysts anticipate that Allegiant Travel Company will post 5.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. Global Retirement Partners LLC acquired a new stake in Allegiant Travel during the 2nd quarter valued at $26,000. Allworth Financial LP purchased a new position in Allegiant Travel in the 2nd quarter valued at about $26,000. Parallel Advisors LLC boosted its position in Allegiant Travel by 339.6% in the 1st quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock valued at $40,000 after buying an additional 377 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Allegiant Travel during the second quarter valued at about $42,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Allegiant Travel by 40.4% during the third quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors 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. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.

Allegiant Air’s business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.