Allegiant Travel (NASDAQ:ALGT) Sets New 52-Week High – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALGT. Citigroup raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and boosted their target price for the company from $98.00 to $156.00 in a report on Friday. UBS Group raised their price target on Allegiant Travel from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegiant Travel in a research report on Friday, May 29th. Bank of America boosted their price objective on Allegiant Travel from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Finally, The Goldman Sachs Group assumed coverage on Allegiant Travel in a report on Wednesday, June 17th. They set a “buy” rating and a $125.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.36.

Allegiant Travel Price Performance

The business’s 50 day moving average is $86.86 and its two-hundred day moving average is $88.88. The firm has a market capitalization of $2.20 billion, a PE ratio of -59.89, a P/E/G ratio of 0.61 and a beta of 1.55. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.91 and a quick ratio of 0.87.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Thursday, April 30th. The transportation company reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.37. Allegiant Travel had a negative net margin of 1.30% and a positive return on equity of 10.07%. The business had revenue of $732.43 million during the quarter, compared to analyst estimates of $711.01 million. During the same period in the previous year, the business posted $2.11 earnings per share. Allegiant Travel’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. As a group, research analysts anticipate that Allegiant Travel Company will post 3.72 EPS for the current year.

Institutional Trading of Allegiant Travel

A number of hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. purchased a new position in Allegiant Travel in the fourth quarter worth $16,405,000. Assenagon Asset Management S.A. purchased a new stake in Allegiant Travel during the first quarter valued at about $11,781,000. Principal Financial Group Inc. raised its position in 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 stake in Allegiant Travel by 15.4% during the third quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock worth $33,380,000 after purchasing an additional 73,360 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in 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 worth $6,533,000 after purchasing an additional 70,982 shares during the last quarter. 85.81% of the stock is owned by 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.