Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices traded up today with the Dow Jones Industrial Average ( ^DJI) trading up 209 points (1.2%) at 17,010 as of Friday, Oct. 3, 2014, 4:20 PM ET. The NYSE advances/declines ratio sits at 2,086 issues advancing vs. 991 declining with 139 unchanged.

The Transportation industry as a whole closed the day up 1.1% versus the S&P 500, which was up 1.1%. Top gainers within the Transportation industry included Euroseas ( ESEA), up 1.6%, Air T ( AIRT), up 3.0%, Global Ship Lease ( GSL), up 4.7%, Radiant Logistics ( RLGT), up 5.1% and China Eastern Airlines ( CEA), up 1.8%.

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

Global Ship Lease ( GSL) is one of the companies that pushed the Transportation industry higher today. Global Ship Lease was up $0.18 (4.7%) to $4.04 on light volume. Throughout the day, 21,734 shares of Global Ship Lease exchanged hands as compared to its average daily volume of 54,400 shares. The stock ranged in a price between $3.87-$4.04 after having opened the day at $3.90 as compared to the previous trading day's close of $3.86.

Global Ship Lease, Inc. owns and leases containerships under long-term fixed-rate charters to container shipping companies. As of March 31, 2014, it owned 17 vessels with a total capacity of 66,349 twenty-foot equivalent units. The company is based in London, the United Kingdom. Global Ship Lease has a market cap of $186.4 million and is part of the services sector. Shares are down 35.8% year-to-date as of the close of trading on Thursday. Currently there are no analysts who rate Global Ship Lease a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates Global Ship Lease as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, feeble growth in its earnings per share, generally disappointing historical performance in the stock itself and weak operating cash flow.

Highlights from TheStreet Ratings analysis on GSL go as follows:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Marine industry. The net income has significantly decreased by 122.6% when compared to the same quarter one year ago, falling from $10.13 million to -$2.29 million.
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Marine industry and the overall market on the basis of return on equity, GLOBAL SHIP LEASE INC underperformed against that of the industry average and is significantly less than that of the S&P 500.
  • GLOBAL SHIP LEASE INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Stable earnings per share over the past year indicate the company has managed its earnings and share float. We anticipate this stability to falter in the coming year and, in turn, the company to deliver lower earnings per share than prior full year. During the past fiscal year, GLOBAL SHIP LEASE INC's EPS of $0.68 remained unchanged from the prior years' EPS of $0.68. For the next year, the market is expecting a contraction of 104.4% in earnings (-$0.03 versus $0.68).
  • The share price of GLOBAL SHIP LEASE INC has not done very well: it is down 18.60% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • Net operating cash flow has decreased to $17.46 million or 10.66% when compared to the same quarter last year. Despite a decrease in cash flow of 10.66%, GLOBAL SHIP LEASE INC is in line with the industry average cash flow growth rate of -19.11%.

You can view the full analysis from the report here: Global Ship Lease Ratings Report

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At the close, Air T ( AIRT) was up $0.38 (3.0%) to $13.19 on light volume. Throughout the day, 2,427 shares of Air T exchanged hands as compared to its average daily volume of 13,700 shares. The stock ranged in a price between $12.79-$13.20 after having opened the day at $12.90 as compared to the previous trading day's close of $12.81.

Air T, Inc., through its subsidiaries, provides overnight air cargo, ground equipment sales, and ground support services in the United States and internationally. Air T has a market cap of $30.4 million and is part of the services sector. Shares are up 7.8% year-to-date as of the close of trading on Thursday. Currently there are no analysts who rate Air T a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates Air T as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

Highlights from TheStreet Ratings analysis on AIRT go as follows:

  • Despite its growing revenue, the company underperformed as compared with the industry average of 5.7%. Since the same quarter one year prior, revenues slightly increased by 2.3%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • AIRT's debt-to-equity ratio is very low at 0.03 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, AIRT has a quick ratio of 1.83, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. In comparison to the other companies in the Air Freight & Logistics industry and the overall market, AIR T INC's return on equity is significantly below that of the industry average and is below that of the S&P 500.
  • The gross profit margin for AIR T INC is rather low; currently it is at 15.43%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of 0.33% trails that of the industry average.

You can view the full analysis from the report here: Air T Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Euroseas ( ESEA) was another company that pushed the Transportation industry higher today. Euroseas was up $0.02 (1.6%) to $1.11 on heavy volume. Throughout the day, 72,063 shares of Euroseas exchanged hands as compared to its average daily volume of 42,700 shares. The stock ranged in a price between $1.08-$1.12 after having opened the day at $1.10 as compared to the previous trading day's close of $1.09.

Euroseas Ltd. provides ocean-going transportation services worldwide. It owns and operates dry bulk carriers that transport bulks, such as iron ore, coal, and grains, as well as bauxite, phosphate, and fertilizers. Euroseas has a market cap of $62.6 million and is part of the services sector. Shares are down 24.6% year-to-date as of the close of trading on Thursday. Currently there are no analysts who rate Euroseas a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Euroseas as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on ESEA go as follows:

  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Marine industry and the overall market, EUROSEAS LTD's return on equity significantly trails that of both the industry average and the S&P 500.
  • The gross profit margin for EUROSEAS LTD is rather low; currently it is at 15.92%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of -49.46% is significantly below that of the industry average.
  • ESEA's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 31.68%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • EUROSEAS LTD reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, EUROSEAS LTD reported poor results of -$2.27 versus -$0.39 in the prior year. This year, the market expects an improvement in earnings (-$0.26 versus -$2.27).
  • Despite currently having a low debt-to-equity ratio of 0.42, it is higher than that of the industry average, inferring that management of debt levels may need to be evaluated further. Despite the fact that ESEA's debt-to-equity ratio is mixed in its results, the company's quick ratio of 1.72 is high and demonstrates strong liquidity.

You can view the full analysis from the report here: Euroseas Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.