Allegiant Travel (NASDAQ:ALGT) Shares Gap Down – Time to Sell?

Allegiant Travel Company (NASDAQ:ALGT) shares gapped down before the market opened on Thursday. The stock had previously closed at $72.34, but opened at $67.02. Allegiant Travel shares last traded at $68.1250, with a volume of 19,378 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALGT. Bank of America raised their price target on shares of Allegiant Travel from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Zacks Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Wall Street Zen lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Barclays lowered their price target on Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, September 11th. Finally, Citigroup reiterated a “buy” rating on shares of Allegiant Travel in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.38.

Allegiant Travel Stock Performance

The company has a market cap of $1.83 billion, a PE ratio of 47.50, a PEG ratio of 0.23 and a beta of 1.55. 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 firm’s 50 day moving average is $78.17 and its 200-day moving average is $87.27.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.92. The business had revenue of $943.49 million for the quarter, compared to analyst estimates of $982.70 million. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The business’s revenue was up 36.8% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. On average, research analysts anticipate that Allegiant Travel Company will post 5.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Allegiant Travel in the 2nd quarter worth $416,591,000. Donald Smith & CO. Inc. acquired a new position in shares of Allegiant Travel during the 2nd quarter valued at about $175,636,000. Bank of New York Mellon Corp acquired a new position in shares of Allegiant Travel during the 2nd quarter valued at about $33,013,000. Wellington Management Group LLP purchased a new stake in shares of Allegiant Travel in the second quarter valued at about $26,232,000. Finally, Heartland Advisors Inc. purchased a new stake in shares of Allegiant Travel in the second quarter valued at about $21,737,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.