Allegiant Travel (NASDAQ:ALGT) Trading Up 7.9% – Here’s What Happened

Allegiant Travel Company (NASDAQ:ALGT)’s share price was up 7.9% on Friday . The stock traded as high as $92.69 and last traded at $92.8670. Approximately 232,128 shares were traded during trading, a decline of 58% from the average daily volume of 558,718 shares. The stock had previously closed at $86.04.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALGT shares. Bank of America raised their target price on Allegiant Travel from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Allegiant Travel in a research note on Friday, May 29th. UBS Group raised their target price on Allegiant Travel from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Monday, March 23rd. Zacks Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Finally, Citigroup lowered their target price on Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, six 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 a consensus rating of “Hold” and an average price target of $103.20.

Allegiant Travel Stock Up 6.5%

The company has a debt-to-equity ratio of 1.52, a current ratio of 0.91 and a quick ratio of 0.87. The firm’s 50-day moving average price is $82.70 and its 200 day moving average price is $86.78. The firm has a market cap of $1.69 billion, a P/E ratio of -45.79, a PEG ratio of 0.46 and a beta of 1.55.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Thursday, April 30th. The transportation company reported $3.77 EPS for the quarter, topping the consensus estimate of $3.40 by $0.37. Allegiant Travel had a negative net margin of 1.30% and a positive return on equity of 10.07%. The business had revenue of $732.43 million for the quarter, compared to analysts’ expectations of $711.01 million. During the same quarter last year, the company posted $2.11 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. On average, equities research analysts expect that Allegiant Travel Company will post 3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently modified their holdings of ALGT. Parallel Advisors LLC lifted its holdings in Allegiant Travel by 339.6% in the first 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 lifted its holdings in Allegiant Travel by 35.6% in the first quarter. The Manufacturers Life Insurance Company now owns 5,942 shares of the transportation company’s stock worth $482,000 after acquiring an additional 1,560 shares during the last quarter. Lazard Asset Management LLC bought a new position in Allegiant Travel in the first quarter worth about $615,000. Entropy Technologies LP bought a new position in Allegiant Travel in the first quarter worth about $461,000. Finally, Renaissance Technologies LLC lifted its holdings in Allegiant Travel by 40.9% in the first quarter. Renaissance Technologies LLC now owns 91,000 shares of the transportation company’s stock worth $7,375,000 after acquiring an additional 26,400 shares during the last quarter. Institutional investors 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.