Hawaiian Holdings (HA) Showing Signs Of A Dead Cat Bounce Today

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.

Trade-Ideas LLC identified Hawaiian Holdings ( HA) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Hawaiian Holdings as such a stock due to the following factors:

  • HA has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $29.3 million.
  • HA has traded 59,452 shares today.
  • HA is up 5.6% today.
  • HA was down 6% yesterday.

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More details on HA:

Hawaiian Holdings, Inc., through its subsidiary, Hawaiian Airlines, Inc., engages in the scheduled air transportation of passengers and cargo. HA has a PE ratio of 15. Currently there are 4 analysts that rate Hawaiian Holdings a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Hawaiian Holdings has been 1.4 million shares per day over the past 30 days. Hawaiian has a market cap of $1.3 billion and is part of the services sector and transportation industry. The stock has a beta of 1.01 and a short float of 12.4% with 4.81 days to cover. Shares are down 5.5% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Hawaiian Holdings as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:
  • HA's revenue growth has slightly outpaced the industry average of 1.0%. Since the same quarter one year prior, revenues slightly increased by 2.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 500.00% and other important driving factors, this stock has surged by 71.01% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, HA should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • HAWAIIAN HOLDINGS INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, HAWAIIAN HOLDINGS INC increased its bottom line by earning $1.06 versus $0.95 in the prior year. This year, the market expects an improvement in earnings ($2.84 versus $1.06).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Airlines industry average. The net income increased by 610.0% when compared to the same quarter one year prior, rising from -$5.08 million to $25.88 million.

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