Allegiant Travel (NASDAQ:ALGT) Shares Gap Up After Analyst Upgrade

Allegiant Travel Company (NASDAQ:ALGT)’s stock price gapped up prior to trading on Tuesday after Melius Research upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $115.62, but opened at $119.80. Melius Research now has a $160.00 price target on the stock. Allegiant Travel shares last traded at $114.3520, with a volume of 63,582 shares changing hands.

Other equities analysts have also issued reports about the stock. Wall Street Zen raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. initiated coverage on shares of Allegiant Travel in a report on Wednesday, July 1st. They set an “overweight” rating and a $156.00 price target on the stock. Susquehanna upped their price objective on shares of Allegiant Travel from $85.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday. Bank of America increased their target price on shares of Allegiant Travel from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Citigroup upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and lifted their price target for the company from $98.00 to $156.00 in a research note on Friday, June 26th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.23.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently made changes to their positions in ALGT. Parallel Advisors LLC raised its stake in Allegiant Travel by 339.6% during the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after purchasing an additional 377 shares during the period. Signaturefd LLC grew its stake in shares of Allegiant Travel by 27.3% in the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after buying an additional 117 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after buying an additional 373 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Allegiant Travel during the 3rd quarter worth approximately $69,000. Finally, MidFirst Bank purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $114,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Trading Down 1.1%

The stock has a market cap of $2.11 billion, a PE ratio of -57.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company’s 50-day moving average price is $90.12 and its 200 day moving average price is $90.02. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.87 and a current ratio of 0.91.

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. The company had revenue of $732.43 million during the quarter, compared to analyst estimates of $711.01 million. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. On average, sell-side analysts forecast that Allegiant Travel Company will post 4.43 EPS for the current fiscal year.

Allegiant Travel Company Profile

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.