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Is Allegiant (ALGT) Outperforming Other Transportation Stocks This Year?

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Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Allegiant Travel (ALGT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.

Allegiant Travel is a member of the Transportation sector. This group includes 131 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Allegiant Travel is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ALGT's full-year earnings has moved 27.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, ALGT has gained about 58.8% so far this year. Meanwhile, stocks in the Transportation group have gained about 13.1% on average. As we can see, Allegiant Travel is performing better than its sector in the calendar year.

Another Transportation stock, which has outperformed the sector so far this year, is Covenant Logistics (CVLG - Free Report) . The stock has returned 59.8% year-to-date.

For Covenant Logistics, the consensus EPS estimate for the current year has increased 10% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Allegiant Travel belongs to the Transportation - Airline industry, a group that includes 30 individual stocks and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 21.5% so far this year, meaning that ALGT is performing better in terms of year-to-date returns.

On the other hand, Covenant Logistics belongs to the Transportation - Truck industry. This 13-stock industry is currently ranked #241. The industry has moved +36.6% year to date.

Investors with an interest in Transportation stocks should continue to track Allegiant Travel and Covenant Logistics. These stocks will be looking to continue their solid performance.


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