14 Cheap Transportation Stocks to Buy According to Analysts

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5. Allegiant Travel Company (NYSE:ALGT)

Price-to-Earnings Ratio: 19.08

Upside Potential: 19.46%

With a low P/E multiple and potential upside for investors, Allegiant Travel Company (NYSE:ALGT) is among the 14 Cheap Transportation Stocks to Buy According to Analysts.

With a $200 million transaction on July 7, 2025, Allegiant Travel Company (NYSE:ALGT) sold its 785-room Sunseeker Resort Charlotte Harbor to Blackstone Real Estate, following financial struggles at the resort, which drove ALGT’s decision to refocus on its core airline business.

This sale occurs at a time when the airline is facing ongoing industry challenges. Morgan Stanley decreased its price target on Allegiant Travel Company (NYSE:ALGT) from $85 to $83, maintaining an ‘Equal Weight’ rating. Despite the company’s stable outlook for Q2 following volatile months of February and March, the analyst’s rating is driven by airline executives’ warnings of underlying pressures, particularly regarding weak domestic revenue per available seat mile.

Following the completion of the resort divestiture and with revenue concerns persisting, Allegiant Travel Company (NYSE:ALGT) aims to tighten its focus on aviation amid a complex operating environment.

Allegiant Travel Company (NYSE:ALGT) is a U.S.-based air carrier catering to underserved cities in the country. It is on the list of cheap transportation stocks.

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