NEW YORK ( TheStreet) -- Shares of RailAmerica (NYSE: RA) have taken a tremendous swing upward. The stock is trading at $23.34 as of 9:30 a.m. ET, 29.2% above Wednesday's closing price of $18.07. Volume is at 1,400, zero times the daily average of 115,200. RailAmerica has a market cap of $788.4 million and is part of the services sector and transportation industry. Shares are up 21.4% year to date as of the close of trading on Wednesday. RailAmerica, Inc. engages in the ownership and operation of short line and regional freight railroads in North America. The company has a P/E ratio of 23.8, above the average transportation industry P/E ratio of 20.8 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates RailAmerica as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, good cash flow from operations, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full RailAmerica Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.