JPMorgan Chase & Co. Begins Coverage on Allegiant Travel (NASDAQ:ALGT)

JPMorgan Chase & Co. began coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a report issued on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $156.00 price target on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 32.65% from the stock’s previous close.

A number of other brokerages also recently issued reports on ALGT. Weiss Ratings restated a “sell (d-)” rating on shares of Allegiant Travel in a report on Friday, May 29th. Citigroup upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $98.00 to $156.00 in a report on Friday. Bank of America lifted their price objective on Allegiant Travel from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group assumed coverage on Allegiant Travel in a research note on Wednesday, June 17th. They set a “buy” rating and a $125.00 target price on the stock. Finally, UBS Group upped their target price on Allegiant Travel from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.08.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $117.60 on Wednesday. The firm has a market cap of $2.17 billion, a PE ratio of -58.80, a price-to-earnings-growth ratio of 0.60 and a beta of 1.55. Allegiant Travel has a 12-month low of $42.56 and a 12-month high of $120.42. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.52. The company’s fifty day simple moving average is $87.38 and its two-hundred day simple moving average is $89.13.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Thursday, April 30th. The transportation company reported $3.77 EPS for the quarter, beating the consensus estimate of $3.40 by $0.37. The firm had revenue of $732.43 million during the quarter, compared to the consensus estimate of $711.01 million. Allegiant Travel had a negative net margin of 1.30% and a positive return on equity of 10.07%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.11 earnings per share. Allegiant Travel has set its Q2 2026 guidance at -1.000–0.000 EPS. As a group, equities analysts expect that Allegiant Travel will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in Allegiant Travel by 339.6% in the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after purchasing an additional 377 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Allegiant Travel by 35.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,942 shares of the transportation company’s stock worth $482,000 after purchasing an additional 1,560 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Allegiant Travel in the 1st quarter worth approximately $615,000. Entropy Technologies LP purchased a new stake in shares of Allegiant Travel in the 1st quarter worth approximately $461,000. Finally, Renaissance Technologies LLC increased its position in Allegiant Travel by 40.9% during the 1st quarter. Renaissance Technologies LLC now owns 91,000 shares of the transportation company’s stock valued at $7,375,000 after buying an additional 26,400 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other 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.