Southwest Airlines Co. (LUV) Rating Increased to Buy at Evercore ISI
Southwest Airlines Co. (NYSE:LUV) was upgraded by investment analysts at Evercore ISI from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $37.36 price target on the airline’s stock, down from their prior price target of $47.00. Evercore ISI’s price objective suggests a potential downside of 2.89% from the stock’s current price.
LUV has been the subject of a number of other research reports. Credit Suisse Group AG reduced their target price on Southwest Airlines from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, April 12th. Vetr raised Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $53.32 target price for the company in a report on Wednesday, April 13th. Stephens initiated coverage on Southwest Airlines in a report on Tuesday, March 29th. They issued an “overweight” rating and a $60.00 target price for the company. Deutsche Bank AG restated a “buy” rating and issued a $57.00 price target on shares of Southwest Airlines in a research note on Saturday, June 25th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating on shares of Southwest Airlines in a research note on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.18.
Shares of Southwest Airlines (NYSE:LUV) traded down 1.79% during trading on Tuesday, reaching $38.47. The company’s stock had a trading volume of 6,932,903 shares. The company has a market cap of $23.86 billion, a PE ratio of 10.20 and a beta of 0.80. Southwest Airlines has a 12-month low of $33.96 and a 12-month high of $51.34. The company has a 50 day moving average of $37.46 and a 200 day moving average of $40.56.
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Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. The business earned $5.38 billion during the quarter, compared to the consensus estimate of $5.41 billion. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. On average, analysts anticipate that Southwest Airlines will post $3.78 EPS for the current fiscal year.
In other news, SVP Mark R. Shaw sold 1,776 shares of Southwest Airlines stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total value of $66,813.12. Following the sale, the senior vice president now directly owns 5,226 shares of the company’s stock, valued at $196,602.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO De Ven Michael G. Van bought 4,200 shares of Southwest Airlines stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average cost of $35.77 per share, for a total transaction of $150,234.00. Following the completion of the acquisition, the chief operating officer now directly owns 183,245 shares of the company’s stock, valued at approximately $6,554,673.65. The disclosure for this purchase can be found here. 0.18% of the stock is owned by insiders.
Several large investors have recently modified their holdings of LUV. Eagle Asset Management purchased a new stake in shares of Southwest Airlines during the third quarter valued at about $28,954,000. OppenheimerFunds Inc. bought a new stake in shares of Southwest Airlines during the fourth quarter valued at $1,066,000. Brown Advisory Inc. boosted its stake in shares of Southwest Airlines by 0.3% in the fourth quarter. Brown Advisory Inc. now owns 61,797 shares of the airline’s stock valued at $2,661,000 after buying an additional 186 shares during the last quarter. BOKF NA boosted its stake in shares of Southwest Airlines by 78.6% in the fourth quarter. BOKF NA now owns 26,900 shares of the airline’s stock valued at $1,158,000 after buying an additional 11,835 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Southwest Airlines by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,491 shares of the airline’s stock valued at $1,830,000 after buying an additional 127 shares during the last quarter. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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