NEW YORK ( TheStreet) -- Allegiant Travel Company (Nasdaq: ALGT) hit a new 52-week high Thursday as it is currently trading at $63.64, above its previous 52-week high of $63.59 with 116,719 shares traded as of 12:49 p.m. ET. Average volume has been 163,900 shares over the past 30 days.

Allegiant Travel has a market cap of $1.15 billion and is part of the services sector and transportation industry. Shares are up 12.5% year to date as of the close of trading on Wednesday.

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, equal to the average transportation industry P/E ratio 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, increase in net income, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Allegiant Travel Ratings Report.

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