Southwest Airlines Co. (LUV) Stock Rating Upgraded by Vetr Inc.
Southwest Airlines Co. (NYSE:LUV) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $43.50 price objective on the airline’s stock. Vetr‘s price target suggests a potential upside of 9.38% from the stock’s current price.
A number of other analysts have also recently commented on the company. Credit Suisse Group AG set a $48.00 price objective on Southwest Airlines and gave the company a “buy” rating in a research report on Monday, September 12th. Evercore ISI upgraded Southwest Airlines from a “hold” rating to a “buy” rating and reduced their price objective for the company from $47.00 to $37.36 in a research report on Tuesday, July 26th. Morgan Stanley reiterated a “hold” rating and set a $43.00 price objective on shares of Southwest Airlines in a research report on Sunday, August 21st. JPMorgan Chase & Co. cut Southwest Airlines from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $52.50 to $34.00 in a research report on Wednesday, July 27th. Finally, Argus cut Southwest Airlines from a “buy” rating to a “hold” rating and upped their price objective for the company from $32.94 to $37.83 in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Southwest Airlines has an average rating of “Buy” and a consensus price target of $48.18.
Southwest Airlines (NYSE:LUV) traded up 3.38% on Monday, reaching $39.77. The company had a trading volume of 7,815,066 shares. Southwest Airlines has a 12-month low of $33.96 and a 12-month high of $51.34. The stock has a market capitalization of $24.67 billion, a P/E ratio of 10.55 and a beta of 0.79. The stock’s 50-day moving average price is $37.56 and its 200-day moving average price is $40.47.
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Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The business earned $5.38 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Southwest Airlines will post $3.78 EPS for the current fiscal year.
In other Southwest Airlines news, SVP Mark R. Shaw sold 1,776 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total transaction of $66,813.12. Following the sale, the senior vice president now directly owns 5,226 shares in the company, valued at $196,602.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William H. Dr Cunningham acquired 5,700 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $35.80 per share, for a total transaction of $204,060.00. Following the completion of the transaction, the director now owns 56,283 shares of the company’s stock, valued at $2,014,931.40. The disclosure for this purchase can be found here. Corporate insiders own 0.18% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Strs Ohio increased its stake in shares of Southwest Airlines by 393.0% in the second quarter. Strs Ohio now owns 776,030 shares of the airline’s stock worth $30,428,000 after buying an additional 618,608 shares during the period. Calamos Advisors LLC increased its stake in shares of Southwest Airlines by 15.9% in the second quarter. Calamos Advisors LLC now owns 1,242,786 shares of the airline’s stock worth $48,730,000 after buying an additional 170,752 shares during the period. First Republic Investment Management Inc. increased its stake in shares of Southwest Airlines by 97.8% in the first quarter. First Republic Investment Management Inc. now owns 1,151,824 shares of the airline’s stock worth $51,602,000 after buying an additional 569,576 shares during the period. Capital Fund Management S.A. increased its stake in shares of Southwest Airlines by 472.4% in the second quarter. Capital Fund Management S.A. now owns 1,718,192 shares of the airline’s stock worth $67,370,000 after buying an additional 1,418,012 shares during the period. Finally, Anchor Bolt Capital LP increased its stake in shares of Southwest Airlines by 2.5% in the first quarter. Anchor Bolt Capital LP now owns 4,100,671 shares of the airline’s stock worth $183,710,000 after buying an additional 99,921 shares during the period. Institutional investors and hedge funds own 78.34% of the company’s stock.
About Southwest Airlines
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.
To view Vetr’s full report, visit Vetr’s official website.
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