Southwest Airlines Co. (LUV) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Southwest Airlines Co. (NYSE:LUV) from a buy rating to a strong-buy rating in a research report released on Monday. They currently have $43.50 price objective on the airline’s stock.
A number of other equities research analysts have also recently commented on the company. Bank of America Corp. set a $50.00 target price on Southwest Airlines and gave the stock a buy rating in a research note on Saturday, October 1st. Credit Suisse Group AG set a $48.00 target price on Southwest Airlines and gave the stock a buy rating in a research note on Monday, September 12th. Imperial Capital began coverage on Southwest Airlines in a research note on Friday, September 9th. They issued an outperform rating and a $46.00 target price on the stock. Morgan Stanley reissued a hold rating and issued a $43.00 target price on shares of Southwest Airlines in a research note on Sunday, August 21st. Finally, JPMorgan Chase & Co. cut Southwest Airlines from an overweight rating to a neutral rating and cut their target price for the stock from $52.50 to $34.00 in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Southwest Airlines has an average rating of Buy and a consensus target price of $47.86.
Shares of Southwest Airlines (NYSE:LUV) traded up 0.73% during midday trading on Monday, reaching $40.06. The company had a trading volume of 1,241,242 shares. The company has a 50 day moving average of $37.56 and a 200 day moving average of $40.47. The firm has a market capitalization of $24.85 billion, a price-to-earnings ratio of 10.63 and a beta of 0.79. Southwest Airlines has a 12-month low of $33.96 and a 12-month high of $51.34.
Southwest Airlines (NYSE:LUV) last issued 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 firm earned $5.38 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period in the previous year, the company earned $1.03 earnings per share. Southwest Airlines’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts anticipate that Southwest Airlines will post $3.78 EPS for the current year.
In other Southwest Airlines news, insider Gary C. Kelly bought 28,106 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were bought at an average price of $35.58 per share, with a total value of $1,000,011.48. Following the purchase, the insider now owns 505,119 shares of the company’s stock, valued at $17,972,134.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark R. Shaw sold 1,776 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, July 27th. The shares were 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 in the company, valued at approximately $196,602.12. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Scotia Capital Inc. acquired a new stake in shares of Southwest Airlines during the first quarter valued at about $542,000. Lazard Asset Management LLC acquired a new stake in shares of Southwest Airlines during the first quarter valued at about $280,000. Optimum Investment Advisors increased its stake in shares of Southwest Airlines by 9.2% in the first quarter. Optimum Investment Advisors now owns 12,486 shares of the airline’s stock valued at $559,000 after buying an additional 1,050 shares during the period. State Street Corp increased its stake in shares of Southwest Airlines by 1.7% in the first quarter. State Street Corp now owns 22,391,063 shares of the airline’s stock valued at $1,003,110,000 after buying an additional 373,352 shares during the period. Finally, Pegasus Partners Ltd. increased its stake in shares of Southwest Airlines by 111.7% in the first quarter. Pegasus Partners Ltd. now owns 36,660 shares of the airline’s stock valued at $1,642,000 after buying an additional 19,340 shares during the period. 78.34% of the stock is currently owned by 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.
To view Vetr’s full report, visit Vetr’s official website.
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