Allegiant Travel Company ALGT reported traffic numbers for May. Traffic for the total system including scheduled service and fixed fee contract, measured in revenue passenger miles (RPMs), improved 10.3% on a year-over-year basis to 1.11 billion. System capacity, calculated in available seat miles (ASMs), increased 10.7% to 1.36 billion in the month.With capacity expansion outpacing traffic growth, load factor (percentage of seats filled with passengers) dipped 20 basis points year over year to 81.8%.We remind investors that the carrier reported a decrease in load factor for April as well. Back then, the airline justified this slip in the key metric stating that the development “was not outside of our expectations.” Allegiant said that a significant capacity expansion between March-end and the commencement of the Easter travel period negatively impacted its load factor in the month.Allegiant Travel Company Price Allegiant Travel Company price | Allegiant Travel Company Quote The carrier’s passenger count rose 12.3% in May. Its system-wide average fuel cost per gallon was approximately $2.32 in the month, higher than $2.25 in April. Fuel cost per gallon for the current year is anticipated to be $2.26. The metric was $2.33 in 2018.Zacks Rank & Key PicksAllegiant carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. SKYW, GATX Corporation GATX and Fly Leasing Limited FLY. While Fly Leasing sports a Zacks Rank #1 (Strong Buy), SkyWest and GATX carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Shares of SkyWest and Fly Leasing have surged more than 33% and 58%, respectively, so far this year. Meanwhile, GATX boasts a stellar earnings history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average being 16%.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>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 SkyWest, Inc. (SKYW): Free Stock Analysis Report GATX Corporation (GATX): Free Stock Analysis Report Fly Leasing Limited (FLY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research