Allegiant Travel Company (ALGT) reported weak traffic numbers for the month of April, primarily due to lackluster air travel demand stemming from the COVID-19 outbreak. Traffic for scheduled service, measured in revenue passenger miles (RPMs), decreased 97% on a year-over-year basis to 35.18 million. Scheduled capacity, calculated in available seat miles (ASMs), also fell 87.2% to 182.5 million in the month.Since the decline in traffic exceeded capacity reduction, load factor (percentage of seats filled with passengers) plunged 6170 basis points year over year to 19.3%.The number of departures for scheduled service declined 88.3% on a year-over-year basis. However, average stage length (average distance flown per aircraft departure) climbed 4.4% to 934 miles in the same month. For the total system (including scheduled service and fixed fee contract), number of departures decreased 87.7%, while the average stage length increased 2.6%.Zacks Rank & Key PicksAllegiant Travel carries a Zacks Rank #3 (Hold).A few better-ranked stocks in the Zacks Transportation sector are Scorpio Tankers Inc. STNG , Teekay Tankers Ltd. TNK and Nordic American Tankers Limited NAT . Scorpio Tankers and Teekay Tankers sport a Zacks Rank #1 (Strong Buy), while Nordic American Tankers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for The Scorpio Tankers’ current-year earnings has been revised upward in excess of 100% in the past 60 days.The Teekay Tankers stock has seen the Zacks Consensus Estimate for current-year earnings being revised upward by 53.4% in the past 60 days.The Zacks Consensus Estimate for Nordic American Tankers’ current-year earnings has been revised upward by 36.9% in the past 60 days.Today's Best Stocks from ZacksWould you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.See their latest picks free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Allegiant Travel Company (ALGT): Free Stock Analysis Report Nordic American Tankers Limited (NAT): Free Stock Analysis Report Teekay Tankers Ltd. (TNK): Free Stock Analysis Report Scorpio Tankers Inc. (STNG): Free Stock Analysis Report To read this article on Zacks.com click here.