Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Expeditors International of Washington, Inc. (EXPD) - free report >>
FedEx Corporation (FDX) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Expeditors International of Washington, Inc. (EXPD) - free report >>
FedEx Corporation (FDX) - free report >>
Image: Bigstock
Allegiant Travel (ALGT) Posts Dismal October Traffic Data
Air-travel demand continues to trend far below the year-ago levels despite showing signs of recent recovery. Due to this downside, Allegiant Travel Company’s (ALGT - Free Report) traffic, measured in revenue passenger miles, decreased 29% year over year in October for scheduled service.
To compensate for the year-over-year weakness in demand, this Las Vegas, NV-based carrier is trimming capacity. Consequently, last month, capacity (measured in available seat miles) contracted 6.4%. With traffic declining more than the extent of capacity reduction, load factor (% of seats filled by passengers) fell 20 points year over year to 63.1%. Allegiant Travel’s monthly departures for scheduled service dropped 9.5%.
Moreover, the number of passengers transported by Allegiant Travel in October for scheduled service plunged 30.1%. For the total system (scheduled service and fixed fee contract) passengers transported decreased 30.8% year over year due to coronavirus woes. Moreover, the systemwide average fuel price per gallon in the month was estimated to be $1.29 per gallon.
Due to pandemic crisis, shares of Allegiant Travel have dropped 11.2% since the beginning of March compared with the industry’s 9.7% fall.
Zacks Rank & Key Picks
Allegiant Travel carries a Zacks Rank #3 (Hold), currently. Some better-ranked stocks in the broader Transportation sector are FedEx Corporation (FDX - Free Report) , Landstar System (LSTR - Free Report) and Expeditors International of Washington (EXPD - Free Report) . While FedEx sports a Zacks Rank #1 (Strong Buy), both Landstar and Expeditors carry a Zacks Rank #2 (Buy), presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of FedEx, Landstar and Expeditors have gained 77.1%, 14% and 13.6% so far this year, respectively.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>