Allegiant Travel (NASDAQ:ALGT) Stock Price Down 9.5% – What’s Next?

Allegiant Travel Company (NASDAQ:ALGT) shares fell 9.5% during trading on Wednesday. The stock traded as low as $66.12 and last traded at $65.4680. Approximately 274,965 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 549,865 shares. The stock had previously closed at $72.34.

Analysts Set New Price Targets

A number of research firms recently commented on ALGT. The Goldman Sachs Group upped their price objective on Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Zacks Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. UBS Group raised Allegiant Travel from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $111.00 to $107.00 in a research report on Sunday, September 13th. Citigroup restated a “buy” rating on shares of Allegiant Travel in a research note on Tuesday, October 6th. Finally, Morgan Stanley upped their target price on shares of Allegiant Travel from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allegiant Travel presently has an average rating of “Moderate Buy” and an average price target of $123.38.

Allegiant Travel Price Performance

The firm has a 50 day moving average price of $80.02 and a 200 day moving average price of $87.60. 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 stock has a market cap of $1.83 billion, a P/E ratio of 47.51, a P/E/G ratio of 0.25 and a beta of 1.55.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.92. The company had revenue of $943.49 million during the quarter, compared to the consensus estimate of $982.70 million. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%. The firm’s revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. On average, analysts forecast that Allegiant Travel Company will post 5.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors have recently bought and sold shares of ALGT. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Allegiant Travel by 306.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,454 shares of the transportation company’s stock valued at $110,000 after acquiring an additional 1,096 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Allegiant Travel by 40.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company’s stock worth $44,000 after purchasing an additional 168 shares during the period. Venture Visionary Partners LLC bought a new position in Allegiant Travel in the 3rd quarter worth approximately $2,745,000. Integrated Wealth Concepts LLC bought a new position in Allegiant Travel in the 2nd quarter worth approximately $1,149,000. Finally, Arizona State Retirement System purchased a new stake in Allegiant Travel during the 2nd quarter valued at approximately $218,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

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.