Vetr upgraded shares of Southwest Airlines Co. (NYSE:LUV) from a buy rating to a strong-buy rating in a research note issued to investors on Monday. They currently have $43.50 price target on the airline’s stock.
LUV has been the subject of a number of other reports. Credit Suisse Group AG set a $48.00 price target on shares of Southwest Airlines and gave the company a buy rating in a report on Monday, September 12th. Evercore ISI upgraded shares of Southwest Airlines from a hold rating to a buy rating and decreased their price target for the company from $47.00 to $37.36 in a report on Tuesday, July 26th. Morgan Stanley restated a hold rating and set a $43.00 price target on shares of Southwest Airlines in a report on Sunday, August 21st. JPMorgan Chase & Co. cut shares of Southwest Airlines from an overweight rating to a neutral rating and decreased their price target for the company from $52.50 to $34.00 in a report on Wednesday, July 27th. Finally, Argus cut shares of Southwest Airlines from a buy rating to a hold rating and upped their price target for the company from $32.94 to $37.83 in a report on Monday, July 25th. One 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 assigned a strong buy rating to the company’s stock. Southwest Airlines has an average rating of Buy and a consensus target price of $48.36.
Southwest Airlines (NYSE:LUV) opened at 41.38 on Monday. Southwest Airlines has a 52 week low of $33.96 and a 52 week high of $51.34. The firm has a market capitalization of $25.67 billion, a P/E ratio of 10.98 and a beta of 0.80. The firm has a 50-day moving average price of $37.89 and a 200-day moving average price of $40.47.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Southwest Airlines will post $3.78 EPS for the current year.
In other news, insider Gary C. Kelly acquired 28,106 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $35.58 per share, with a total value of $1,000,011.48. Following the completion of the acquisition, the insider now owns 505,119 shares in the company, valued at approximately $17,972,134.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mark R. Shaw sold 1,776 shares of the firm’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 of the company’s stock, valued at approximately $196,602.12. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Several hedge funds have recently bought and sold shares of LUV. 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 during 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 during 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 during the last quarter. 1832 Asset Management L.P. purchased 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 during the last quarter. 78.34% of the stock is owned by institutional investors.
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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