Vetr upgraded shares of Southwest Airlines Co. (NYSE:LUV) from a buy rating to a strong-buy rating in a research note published on Wednesday. They currently have $43.50 price objective on the airline’s stock.
LUV has been the subject of a number of other research reports. Credit Suisse Group AG set a $48.00 price objective on shares of Southwest Airlines and gave the stock 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 reduced their target price for the stock from $47.00 to $37.36 in a research note on Tuesday, July 26th. Morgan Stanley reiterated a hold rating and issued a $43.00 target price on shares of Southwest Airlines in a research note on Sunday, August 21st. JPMorgan Chase & Co. downgraded shares of Southwest Airlines from an overweight rating to a neutral rating and reduced their target price for the stock from $52.50 to $34.00 in a research note on Wednesday, July 27th. Finally, Argus downgraded shares of Southwest Airlines from a buy rating to a hold rating and lifted their target price for the stock from $32.94 to $37.83 in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $48.05.
Shares of Southwest Airlines (NYSE:LUV) opened at 38.07 on Wednesday. Southwest Airlines has a 52-week low of $33.96 and a 52-week high of $51.34. The company has a market capitalization of $23.61 billion, a PE ratio of 10.10 and a beta of 0.84. The company has a 50-day moving average of $37.04 and a 200 day moving average of $40.80.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by $0.02. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The company had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter last year, the business posted $1.03 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that Southwest Airlines will post $3.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Southwest Airlines’s payout ratio is 10.61%.
In other news, SVP Mark R. Shaw sold 1,776 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 5,226 shares in the company, valued at approximately $196,602.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary C. Kelly acquired 28,106 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was acquired 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 disclosure for this purchase can be found here. 0.18% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Apex Capital Management increased its position in shares of Southwest Airlines by 0.4% in the first quarter. Apex Capital Management now owns 15,978 shares of the airline’s stock valued at $716,000 after buying an additional 65 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Southwest Airlines during the first quarter valued at approximately $1,998,000. Morris Capital Advisors LLC purchased a new position in shares of Southwest Airlines during the first quarter valued at approximately $4,560,000. Teachers Advisors Inc. increased its position in shares of Southwest Airlines by 3.8% in the first quarter. Teachers Advisors Inc. now owns 1,823,273 shares of the airline’s stock valued at $81,683,000 after buying an additional 67,323 shares during the last quarter. Finally, Cottage Street Advisors LLC increased its position in shares of Southwest Airlines by 10.1% in the first quarter. Cottage Street Advisors LLC now owns 25,100 shares of the airline’s stock valued at $1,133,000 after buying an additional 2,300 shares during 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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