Virgin America Inc. VA was a big mover last session with its shares rising over 13% on the day. The upside came on reports of the airline reaching out to potential buyers regarding a sale of part or all of the company. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past month’s volatile price range of $29.02 to $31.19.
This California-based provider of scheduled air services has seen no estimate revision in the last 7 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Virgin America currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the air transportation industry may consider Hawaiian Holdings Inc. HA, which sports a Zacks Rank #1 (Strong Buy).
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