Zacks Research Upgrades Allegiant Travel (NASDAQ:ALGT) to “Strong-Buy”

Allegiant Travel (NASDAQ:ALGT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Melius Research raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Tuesday, July 7th. Citigroup raised Allegiant Travel from a “neutral” rating to a “buy” rating and lifted their target price for the company from $98.00 to $156.00 in a research note on Friday, June 26th. The Goldman Sachs Group boosted their price target on Allegiant Travel from $125.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. UBS Group upped their price target on Allegiant Travel from $103.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Susquehanna cut their price objective on shares of Allegiant Travel from $132.00 to $110.00 and set a “neutral” rating for the company in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.

Allegiant Travel Trading Down 3.1%

Shares of Allegiant Travel stock opened at $81.70 on Monday. Allegiant Travel has a 1-year low of $53.70 and a 1-year high of $123.63. The company’s fifty day simple moving average is $101.07 and its 200-day simple moving average is $92.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.83 and a quick ratio of 0.80. The stock has a market capitalization of $2.23 billion, a PE ratio of 57.94, a P/E/G ratio of 0.23 and a beta of 1.53.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.92. The business had revenue of $943.49 million during the quarter, compared to analyst estimates of $982.70 million. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.Allegiant Travel’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. As a group, equities analysts anticipate that Allegiant Travel will post 7.14 earnings per share for the current year.

Institutional Trading of Allegiant Travel

Several hedge funds have recently made changes to their positions in ALGT. Empowered Funds LLC bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at approximately $12,711,000. Public Employees Retirement System of Ohio purchased a new stake in Allegiant Travel during the 2nd quarter valued at $2,572,000. Corient Private Wealth LP purchased a new stake in Allegiant Travel during the 2nd quarter valued at $3,597,000. Bank of America Corp DE bought a new stake in Allegiant Travel in the second quarter worth $11,087,000. Finally, Freestone Grove Partners LP bought a new stake in Allegiant Travel in the second quarter worth $527,000. 85.81% of the stock is currently owned by hedge funds and other 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.