Allegiant Travel (NASDAQ:ALGT) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Allegiant Travel from “hold” to “strong buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $127.
• Allegiant reported quarterly EPS of $2.19, beating estimates of $1.27, while revenue rose 36.8% year over year to $943.5 million but fell short of expectations.
• Institutional investors hold 85.81% of the company’s shares, with BlackRock and Donald Smith & Co. among firms that recently established sizable positions.

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

Several other research firms also recently issued reports on ALGT. Morgan Stanley boosted their price objective on shares of Allegiant Travel from $100.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Wall Street Zen lowered Allegiant Travel from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America upped 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. Susquehanna reduced their price objective on Allegiant Travel from $132.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Finally, Citigroup raised Allegiant Travel from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $98.00 to $156.00 in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $127.00.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $81.70 on Monday. Allegiant Travel has a 12 month low of $53.70 and a 12 month high of $123.63. The company has a market cap of $2.23 billion, a P/E ratio of 57.94, a P/E/G ratio of 0.23 and a beta of 1.53. The business's 50 day moving average is $101.07 and its two-hundred day moving average is $92.43. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.38.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.92. The company had revenue of $943.49 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. On average, equities analysts expect that Allegiant Travel will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. BlackRock Inc. bought a new position in Allegiant Travel in the 2nd quarter valued at $416,591,000. Donald Smith & CO. Inc. acquired a new position in Allegiant Travel in the second quarter worth $175,636,000. Bank of New York Mellon Corp bought a new stake in shares of Allegiant Travel during the second quarter worth $33,013,000. Balyasny Asset Management L.P. bought a new stake in shares of Allegiant Travel during the fourth quarter worth $16,405,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Allegiant Travel in the second quarter valued at $21,737,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source