Allegiant Travel (NASDAQ:ALGT) Stock Price Down 6.8% – What’s Next?

Shares of Allegiant Travel Company (NASDAQ:ALGT) dropped 6.8% during mid-day trading on Thursday . The stock traded as low as $91.47 and last traded at $91.5480. 38,981 shares were traded during trading, a decline of 93% from the average session volume of 567,791 shares. The stock had previously closed at $98.28.

Analyst Ratings Changes

ALGT has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegiant Travel in a research note on Friday, May 29th. Melius Research raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Tuesday, July 7th. Bank of America lifted their price target on Allegiant Travel from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Zacks Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, Citigroup raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and upped their price objective for the company from $98.00 to $156.00 in a research note on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.08.

Allegiant Travel Price Performance

The company has a market capitalization of $1.75 billion, a PE ratio of -47.36, a PEG ratio of 0.26 and a beta of 1.51. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.52. The company’s 50 day moving average price is $96.77 and its 200-day moving average price is $91.79.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results 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. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.The business had revenue of $732.43 million for the quarter, compared to analyst estimates of $711.01 million. During the same period last year, the company posted $2.11 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. 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 7.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of large investors have recently modified their holdings of ALGT. Parallel Advisors LLC lifted 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 valued at $40,000 after purchasing an additional 377 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Allegiant Travel during the 2nd quarter worth about $42,000. Signaturefd LLC increased its position in Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after purchasing an additional 117 shares in the last quarter. NewEdge Advisors LLC increased its position in 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 purchasing an additional 373 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in Allegiant Travel in the third quarter valued at approximately $69,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.