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NEW YORK ( TheStreet) -- Allegiant Travel Company (Nasdaq: ALGT) hit a new 52-week high Friday as it is currently trading at $65.21, above its previous 52-week high of $65.14 with 47,029 shares traded as of 10:08 a.m. ET. Average volume has been 161,900 shares over the past 30 days. Allegiant Travel has a market cap of $1.22 billion and is part of the services sector and transportation industry. Shares are up 17% year to date as of the close of trading on Thursday. 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 22.7, equal to the average transportation industry P/E ratio and above the S&P 500 P/E ratio of 17.7.