NEW YORK ( TheStreet) -- Allegiant Travel Company (Nasdaq: ALGT) hit a new 52-week high Wednesday as it is currently trading at $57.77, above its previous 52-week high of $57.76 with 11,584 shares traded as of 9:35 a.m. ET. Average volume has been 93,300 shares over the past 30 days.

Allegiant Travel has a market cap of $1.03 billion and is part of the services sector and transportation industry. Shares are up 3.2% year to date as of the close of trading on Tuesday.

Allegiant Travel Company, through its subsidiaries, operates as a leisure travel company in the United States. It provides scheduled air transportation on limited frequency nonstop flights between small city markets and leisure destinations, such as Las Vegas, Orlando, Phoenix, Tampa/St. The company has a P/E ratio of 21.4, above the average transportation industry P/E ratio of 20.4 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Allegiant Travel as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Allegiant Travel Ratings Report.

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