Virgin America Inc (NASDAQ:VA) reported its preliminary operational results for August 2016. The airline’s traffic (measured in revenue passenger miles) increased 19.9 percent on capacity (measured in available seat miles) that was 16.4 percent higher from the same month in 2015.
Load factor was 86.1 percent, an increase of 2.5 points from August 2015. The number of onboard passengers increased 14.8 percent from the same month last year. (Original Source)
Shares of Virgin America are currently trading flat at $55.98. VA has a 1-year high of $56.54 and a 1-year low of $26.30. The stock’s 50-day moving average is $55.99 and its 200-day moving average is $50.85.
On the ratings front, Virgin has been the subject of a number of recent research reports. In a report issued on August 16, Morgan Stanley analyst Rajeev Lalwani maintained a Hold rating on VA, with a price target of $57, which represents a slight upside potential from current levels. Separately, on July 6, Deutsche Bank’s Michael Linenberg reiterated a Hold rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Rajeev Lalwani and Michael Linenberg have a total average return of -6.9% and 14.8% respectively. Lalwani has a success rate of 45% and is ranked #3754 out of 4147 analysts, while Linenberg has a success rate of 52% and is ranked #167.
Virgin America, Inc. is a California-based airline that provides scheduled air travel in the continental United States and Mexico. The company operates primarily from its focus cities of Los Angeles and San Francisco to other major business and leisure destinations in North America. Its objective is to make flying good again, with brand new planes, attractive fares, top-notch service, and a host of fun, innovative amenities that are reinventing domestic air travel.