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Zacks' 7 Best Strong Buy Stocks (New Research Report)
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predicting the 7 stocks that will soar highest in the coming month.
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Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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Ryanair Holdings (RYAAY) Passenger Traffic Swells in August
Ryanair Holdings (RYAAY - Free Report) reported highly impressive traffic numbers for the month of August, driven by upbeat air travel demand. The number of passengers ferried on RYAAY flights in August was 18.9 million, implying that 12% more passengers flew than a year ago.
Owing to upbeat traffic, the load factor (percentage of seats filled by passengers) was as high as 96% in August. This, however, remained flat from its year-ago figure.
Owing to buoyant air travel demand, shares of Ryanair have gained 34.7% over the past year compared with the 12.1% growth of the Zacks Airline industry.
Image Source: Zacks Investment Research
Ryanair has been benefiting from a stronger-than-expected recovery in air travel demand from the pandemic lows. While passenger volumes continue to be strong, what is all the more encouraging is the strong bounce back of international travel.
Ryanair expects its traffic for fiscal 2024 to be 183.5 million. In spite of upbeat passenger volumes, RYAAY continues to be hurt due to headwinds like air traffic control strikes and further probable Boeing delivery delays. Due to the challenges, management trimmed its fiscal 2024 traffic forecast from 185 million.
Zacks Rank & Key Picks
Ryanair currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Triton International Limited .
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.83 at the end of second-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.