3 Transportation Stocks Driving The Industry Higher

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 67 points (0.4%) at 16,436 as of Friday, Aug. 8, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,992 issues advancing vs. 961 declining with 169 unchanged.

The Transportation industry currently sits up 0.4% versus the S&P 500, which is up 0.4%. Top gainers within the industry include Air Methods ( AIRM), up 11.3%, and Ryanair Holdings ( RYAAY), up 0.6%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. Spirit Airlines ( SAVE) is one of the companies pushing the Transportation industry higher today. As of noon trading, Spirit Airlines is up $0.84 (1.3%) to $65.86 on light volume. Thus far, 245,609 shares of Spirit Airlines exchanged hands as compared to its average daily volume of 902,200 shares. The stock has ranged in price between $63.93-$66.12 after having opened the day at $65.04 as compared to the previous trading day's close of $65.02.

Spirit Airlines, Inc. provides low-fare airline services. It operates approximately 250 daily flights to 50 destinations in the United States, Caribbean, and Latin America. Spirit Airlines has a market cap of $4.7 billion and is part of the services sector. Shares are up 43.2% year-to-date as of the close of trading on Thursday. Currently there are 9 analysts who rate Spirit Airlines a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Spirit Airlines as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, robust revenue growth, notable return on equity, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Spirit Airlines Ratings Report now.

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