Vetr upgraded shares of Southwest Airlines Co. (NYSE:LUV) from a buy rating to a strong-buy rating in a research report released on Wednesday. Vetr currently has $43.50 price target on the airline’s stock.
Other equities analysts also recently issued research reports about the stock. Cowen and Company restated a buy rating on shares of Southwest Airlines in a report on Sunday, June 26th. Deutsche Bank AG reaffirmed a buy rating and set a $57.00 price objective on shares of Southwest Airlines in a research note on Saturday, June 25th. Evercore ISI raised shares of Southwest Airlines from a hold rating to a buy rating and dropped their price objective for the stock from $47.00 to $37.36 in a research note on Tuesday, July 26th. Credit Suisse Group AG set a $48.00 price objective on shares of Southwest Airlines and gave the stock a buy rating in a research note on Monday, September 12th. Finally, Morgan Stanley reaffirmed a hold rating and set a $43.00 price objective on shares of Southwest Airlines in a research note on Sunday, August 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $48.18.
Southwest Airlines (NYSE:LUV) opened at 39.74 on Wednesday. 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 $37.21 and a 200-day moving average of $40.67. The stock has a market cap of $24.65 billion, a P/E ratio of 10.54 and a beta of 0.79.
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. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities analysts forecast that Southwest Airlines will post $3.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.01%. Southwest Airlines’s payout ratio is 10.61%.
In other Southwest Airlines news, COO De Ven Michael G. Van bought 4,200 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $35.77 per share, for a total transaction of $150,234.00. Following the completion of the transaction, the chief operating officer now owns 183,245 shares of the company’s stock, valued at approximately $6,554,673.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark R. Shaw sold 1,776 shares of the 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 transaction, the senior vice president now owns 5,226 shares in the company, valued at $196,602.12. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LUV. Strs Ohio increased its position in Southwest Airlines by 393.0% in the second quarter. Strs Ohio now owns 776,030 shares of the airline’s stock valued at $30,428,000 after buying an additional 618,608 shares during the period. Calamos Advisors LLC raised 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 valued at $48,730,000 after buying an additional 170,752 shares in the last quarter. First Republic Investment Management Inc. raised 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 valued at $51,602,000 after buying an additional 569,576 shares in the last quarter. Capital Fund Management S.A. raised 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 valued at $67,370,000 after buying an additional 1,418,012 shares in the last quarter. Finally, Anchor Bolt Capital LP raised 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 valued at $183,710,000 after buying an additional 99,921 shares in the last quarter. Hedge funds and other institutional investors 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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