We recently issued an updated report on Allegiant Travel Company ALGT.Low fuel prices are aiding Allegiant amid adversities. Evidently, average fuel cost per gallon (scheduled) declined 30.9% to $1.50 in the first nine months of 2020. The company expects the metric for the fourth quarter to be $1.35 per gallon.We are also impressed by the company's efforts to modernize its fleet. The carrier operates an all-Airbus fleet. Allegiant's fleet-size at the end of 2019 was 91 (37 A319 and 54 A320), up from 2018's reported figure. The transition to an all-Airbus fleet, completed in November 2018, increased Allegiant’s fuel efficiency.However, with air-travel demand spiraling down to an unprecedented level, the company’s first nine months operating revenues declined 46.1% year over year. The downtick was caused by 46.5% fall in passenger revenues. Load factor tanked 2450 basis points as capacity contraction surpassed traffic plunge. Low air travel demand is also expected to hurt Allegiant's fourth-quarter performance.Zacks Rank & Stocks to ConsiderAllegiant currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. KNX, FedEx Corporation FDX and Herc Holdings HRI. All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, FedEx and Herc Holdings is pegged at 15%, 12% and 6.5%, respectively.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.Click here for the 6 trades >>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 FedEx Corporation (FDX): Free Stock Analysis Report KnightSwift Transportation Holdings Inc. (KNX): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis Report Herc Holdings Inc. (HRI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research