Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $120.00 at Bank of America

Allegiant Travel (NASDAQ:ALGT) had its price target lifted by research analysts at Bank of America from $100.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price suggests a potential downside of 1.35% from the stock’s current price.

ALGT has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Allegiant Travel in a research note on Friday, May 29th. JPMorgan Chase & Co. assumed coverage on shares of Allegiant Travel in a research note on Wednesday. They set an “overweight” rating and a $156.00 target price on the stock. UBS Group upped their target price on shares of Allegiant Travel from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group assumed coverage on shares of Allegiant Travel in a research report on Wednesday, June 17th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Zacks Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.75.

Allegiant Travel Price Performance

NASDAQ:ALGT traded up $4.04 during trading hours on Wednesday, hitting $121.64. 124,450 shares of the stock were exchanged, compared to its average volume of 579,697. The firm’s fifty day moving average price is $87.38 and its 200 day moving average price is $89.13. Allegiant Travel has a 52-week low of $42.56 and a 52-week high of $122.93. The company has a market cap of $2.24 billion, a P/E ratio of -60.67, a P/E/G ratio of 0.60 and a beta of 1.55. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.52.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Thursday, April 30th. The transportation company reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.37. The business had revenue of $732.43 million for the quarter, compared to the consensus estimate of $711.01 million. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. As a group, equities research analysts anticipate that Allegiant Travel will post 3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Parallel Advisors LLC increased its stake in shares of Allegiant Travel by 339.6% in the 1st quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after acquiring an additional 377 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Allegiant Travel by 35.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,942 shares of the transportation company’s stock valued at $482,000 after acquiring an additional 1,560 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Allegiant Travel during the 1st quarter valued at about $615,000. Entropy Technologies LP purchased a new stake in shares of Allegiant Travel in the first quarter valued at about $461,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Allegiant Travel by 40.9% in the first quarter. Renaissance Technologies LLC now owns 91,000 shares of the transportation company’s stock valued at $7,375,000 after purchasing an additional 26,400 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.