Allegiant Travel (NASDAQ:ALGT) Raised to Buy at Melius Research

Allegiant Travel (NASDAQ:ALGT) was upgraded by investment analysts at Melius Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a $160.00 price objective on the transportation company’s stock. Melius Research’s price objective points to a potential upside of 38.38% from the stock’s current price.

Several other equities analysts have also recently issued reports on ALGT. Bank of America boosted their target price on Allegiant Travel from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegiant Travel in a research note on Friday, May 29th. Morgan Stanley lifted their price target on shares of Allegiant Travel from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $156.00 in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. started coverage on shares of Allegiant Travel in a report on Wednesday, July 1st. They issued an “overweight” rating and a $156.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and a consensus target price of $124.23.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $115.62 on Tuesday. 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 firm has a 50-day moving average of $90.12 and a 200-day moving average of $90.02. The firm has a market cap of $2.13 billion, a P/E ratio of -57.81, a P/E/G ratio of 0.52 and a beta of 1.51. Allegiant Travel has a 1-year low of $42.56 and a 1-year high of $123.63.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Thursday, April 30th. The transportation company reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.37. The company had revenue of $732.43 million for the quarter, compared to the consensus estimate of $711.01 million. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.Allegiant Travel’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 EPS. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. Sell-side analysts expect that Allegiant Travel will post 4.43 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently modified their holdings of ALGT. Balyasny Asset Management L.P. bought a new position in Allegiant Travel in the 4th quarter worth about $16,405,000. Assenagon Asset Management S.A. bought a new stake in Allegiant Travel during the 1st quarter valued at about $11,781,000. Principal Financial Group Inc. raised its holdings in Allegiant Travel by 151.1% in the first quarter. Principal Financial Group Inc. now owns 161,227 shares of the transportation company’s stock worth $13,066,000 after buying an additional 97,010 shares during the last quarter. Franklin Resources Inc. raised its holdings in Allegiant Travel by 15.4% in the third quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock worth $33,380,000 after buying an additional 73,360 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Allegiant Travel by 148.1% in the second quarter. Bank of America Corp DE now owns 118,896 shares of the transportation company’s stock worth $6,533,000 after buying an additional 70,982 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

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.