Allegiant Travel (NASDAQ:ALGT) Shares Gap Up - Time to Buy?

Key Points

• Allegiant Travel shares opened sharply higher, rising from a prior close of $81.63 to $85.46 before retreating to around $82.10.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $128.38, although targets range widely from $110 to $160.
• The company beat quarterly EPS expectations, reporting $2.19 versus the $1.27 consensus estimate, while revenue increased 36.8% year over year but fell short of forecasts. Institutional investors own 85.81% of the stock.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $81.63, but opened at $85.46. Allegiant Travel shares last traded at $82.10, with a volume of 31,391 shares.

Analysts Set New Price Targets

ALGT has been the subject of several research analyst reports. Susquehanna lowered their target price on shares of Allegiant Travel from $132.00 to $110.00 and set a "neutral" rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group upped their target price on shares of Allegiant Travel from $125.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Melius Research upgraded 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. Wall Street Zen downgraded shares of Allegiant Travel from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Barclays started coverage on Allegiant Travel in a research report on Wednesday, July 8th. They issued an "overweight" rating and a $145.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $128.38.

Allegiant Travel Price Performance

The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 58.01, a P/E/G ratio of 0.23 and a beta of 1.53. The company has a 50-day moving average of $100.37 and a 200-day moving average of $92.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data 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. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The business had revenue of $943.49 million for the quarter, compared to the consensus estimate of $982.70 million. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company's quarterly revenue was up 36.8% compared to the same quarter last year. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. As a group, equities research analysts expect that Allegiant Travel Company will post 6.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Allegiant Travel during the second quarter valued at approximately $26,000. Allworth Financial LP acquired a new position in Allegiant Travel during the 2nd quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Allegiant Travel during the second quarter worth approximately $42,000. Parallel Advisors LLC boosted its position in Allegiant Travel by 339.6% during the 1st 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 period. Finally, iSAM Funds UK Ltd acquired a new stake in Allegiant Travel in the third quarter worth about $69,000. Hedge funds and other 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.

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