Allegiant Travel (NASDAQ:ALGT) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Allegiant Travel (NASDAQ:ALGT) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.

ALGT has been the subject of a number of other reports. Citigroup upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $98.00 to $156.00 in a report on Friday, June 26th. UBS Group raised Allegiant Travel from a “neutral” rating to a “buy” rating and lowered their target price for the company from $111.00 to $107.00 in a research note on Sunday. Morgan Stanley lifted their price target on Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Wall Street Zen downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Bank of America upped their price target on shares of Allegiant Travel from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel has an average rating of “Moderate Buy” and a consensus price target of $125.77.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $78.64 on Tuesday. Allegiant Travel has a fifty-two week low of $57.11 and a fifty-two week high of $123.63. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83. The stock has a market cap of $2.15 billion, a P/E ratio of 55.77, a price-to-earnings-growth ratio of 0.22 and a beta of 1.50. The firm’s fifty day moving average price is $89.69 and its 200-day moving average price is $88.49.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.92. The business had revenue of $943.49 million for 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 company’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. On average, equities research analysts expect that Allegiant Travel will post 6.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Allegiant Travel in the second quarter worth about $416,591,000. Donald Smith & CO. Inc. bought a new position in shares of Allegiant Travel in the 2nd quarter worth approximately $175,636,000. U S Global Investors Inc. lifted its stake in shares of Allegiant Travel by 5.1% in the 1st quarter. U S Global Investors Inc. now owns 299,225 shares of the transportation company’s stock valued at $24,249,000 after purchasing an additional 14,540 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Allegiant Travel during the second quarter valued at approximately $33,013,000. Finally, Wellington Management Group LLP purchased a new stake in Allegiant Travel in the second quarter worth $26,232,000. Institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel and aviation company headquartered in Las Vegas, Nevada. Its principal subsidiary, Allegiant Air, operates scheduled and charter passenger flights, primarily connecting smaller regional airports with popular vacation destinations in the United States.

Allegiant Air’s business model emphasizes low base fares and a range of optional services, including baggage, seat selection, priority boarding and other travel-related products. The airline primarily serves leisure travelers and operates routes to destinations such as Florida, Las Vegas, Arizona and other vacation markets, with service designed around demand for leisure travel rather than extensive daily connectivity between major business centers.

Allegiant Travel was established in 1997, and Allegiant Air began scheduled passenger operations in 1999.