NEW YORK ( TheStreet) -- Allegiant Travel Company (Nasdaq: ALGT) hit a new 52-week high Tuesday as it is currently trading at $64.51, above its previous 52-week high of $64.50 with 50,563 shares traded as of 11:08 a.m. ET. Average volume has been 170,700 shares over the past 30 days.

Allegiant Travel has a market cap of $1.23 billion and is part of the services sector and transportation industry. Shares are up 20% year to date as of the close of trading on Monday.

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 22.9, 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, solid stock price performance, growth in earnings per share and increase in net income. 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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