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Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Allegiant Travel (ALGT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Allegiant Travel is one of 131 individual stocks in the Transportation sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 4.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ALGT has returned 10.6% so far this year. Meanwhile, stocks in the Transportation group have gained about 2.3% on average. As we can see, Allegiant Travel is performing better than its sector in the calendar year.
One other Transportation stock that has outperformed the sector so far this year is Delta Air Lines (DAL). The stock is up 13.3% year-to-date.
The consensus estimate for Delta Air Lines' current year EPS has increased 7.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegiant Travel is a member of the Transportation - Airline industry, which includes 28 individual companies and currently sits at #69 in the Zacks Industry Rank. Stocks in this group have gained about 51% so far this year, so ALGT is slightly underperforming its industry this group in terms of year-to-date returns. Delta Air Lines is also part of the same industry.
Investors with an interest in Transportation stocks should continue to track Allegiant Travel and Delta Air Lines. These stocks will be looking to continue their solid performance.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report