Allegiant Travel (NASDAQ:ALGT) Stock Jumps 7.4% - Still a Buy?

Key Points

• Allegiant Travel shares jumped 7.4% to about $71.21, although trading volume was significantly below its daily average.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $123.38, well above the current share price.
• The company beat quarterly EPS expectations, reporting $2.19 versus the $1.27 consensus, while revenue rose 36.8% year over year but fell short of estimates.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) shares traded up 7.4% on Tuesday. The stock traded as high as $69.03 and last traded at $71.2060. 39,493 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 547,365 shares. The stock had previously closed at $66.31.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup reiterated a "buy" rating on shares of Allegiant Travel in a report on Tuesday, October 6th. JPMorgan Chase & Co. assumed coverage on Allegiant Travel in a research note on Wednesday, July 1st. They issued an "overweight" rating and a $156.00 price target for the company. UBS Group upgraded Allegiant Travel from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $111.00 to $107.00 in a research note on Sunday, September 13th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $110.00 price objective on shares of Allegiant Travel in a research report on Wednesday, October 7th. Finally, Weiss Ratings raised shares of Allegiant Travel from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, Allegiant Travel presently has a consensus rating of "Moderate Buy" and an average target price of $123.38.

Allegiant Travel Trading Up 4.1%

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 company has a 50 day simple moving average of $77.70 and a two-hundred day simple moving average of $87.24. The firm has a market cap of $1.89 billion, a PE ratio of 48.96, a P/E/G ratio of 0.22 and a beta of 1.55.

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, topping the consensus estimate of $1.27 by $0.92. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%. The firm had revenue of $943.49 million during the quarter, compared to analysts' expectations of $982.70 million. During the same period last year, the business posted $1.23 earnings per share. The company's revenue for the quarter 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. Analysts expect that Allegiant Travel Company will post 5.91 EPS for the current fiscal year.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Allegiant Travel during the 2nd quarter worth about $416,591,000. Donald Smith & CO. Inc. acquired a new stake in shares of Allegiant Travel during the 2nd quarter valued at about $175,636,000. Bank of New York Mellon Corp purchased a new position in shares of Allegiant Travel in the 2nd quarter valued at about $33,013,000. Wellington Management Group LLP purchased a new position in shares of Allegiant Travel in the 2nd quarter valued at about $26,232,000. Finally, Heartland Advisors Inc. acquired a new position in Allegiant Travel in the 2nd quarter worth about $21,737,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada, and the parent company of Allegiant Air. Founded in 1997, Allegiant Air operates a low-cost, scheduled airline model designed to connect travelers in smaller and midsize U.S. cities with popular vacation destinations.

Allegiant Air provides passenger air transportation primarily within the United States, serving destinations such as Florida, Arizona, Nevada, California and other leisure markets.

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.