Vetr Inc. Upgrades Southwest Airlines Co. (LUV) to “Strong-Buy”
Southwest Airlines Co. (NYSE:LUV) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The firm currently has a $43.50 target price on the airline’s stock. Vetr‘s target price suggests a potential upside of 13.08% from the company’s current price.
Several other brokerages have also recently issued reports on LUV. Zacks Investment Research cut Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. Cowen and Company cut their price objective on Southwest Airlines from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Credit Suisse Group AG restated an “outperform” rating on shares of Southwest Airlines in a research note on Wednesday, July 6th. Bank of America Corp. set a $50.00 price objective on Southwest Airlines and gave the company a “buy” rating in a research note on Saturday, October 1st. Finally, Imperial Capital assumed coverage on Southwest Airlines in a research note on Friday, September 9th. They set an “outperform” rating and a $46.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Southwest Airlines presently has a consensus rating of “Buy” and a consensus price target of $48.18.
Southwest Airlines (NYSE:LUV) opened at 38.47 on Monday. The stock has a market capitalization of $23.86 billion, a P/E ratio of 10.20 and a beta of 0.80. The firm has a 50 day moving average price of $37.46 and a 200 day moving average price of $40.56. Southwest Airlines has a 52 week low of $33.96 and a 52 week high of $51.34.
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Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 21st. The airline reported $1.19 EPS 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 analyst estimates of $5.41 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Southwest Airlines will post $3.78 earnings per share for the current year.
In other news, SVP Mark R. Shaw sold 1,776 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 5,226 shares of the company’s stock, valued at approximately $196,602.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Dr Cunningham acquired 5,700 shares of Southwest Airlines stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average cost of $35.80 per share, with a total value of $204,060.00. Following the completion of the purchase, the director now owns 56,283 shares in the company, valued at $2,014,931.40. The disclosure for this purchase can be found here. Company insiders own 0.18% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Hanson McClain Inc. raised its stake in Southwest Airlines by 2.9% in the second quarter. Hanson McClain Inc. now owns 2,653 shares of the airline’s stock valued at $104,000 after buying an additional 75 shares in the last quarter. Washington Trust Bank raised its stake in Southwest Airlines by 6.9% in the third quarter. Washington Trust Bank now owns 2,704 shares of the airline’s stock valued at $105,000 after buying an additional 174 shares in the last quarter. Invictus RG raised its stake in Southwest Airlines by 637.0% in the second quarter. Invictus RG now owns 2,771 shares of the airline’s stock valued at $109,000 after buying an additional 2,395 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Southwest Airlines during the second quarter valued at $115,000. Finally, Krilogy Financial LLC raised its stake in Southwest Airlines by 45.2% in the second quarter. Krilogy Financial LLC now owns 3,284 shares of the airline’s stock valued at $129,000 after buying an additional 1,023 shares in the last quarter. 78.34% of the stock is owned by institutional investors and hedge funds.
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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