China Southern Airlines (NYSE:ZNH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Zacks.com reports. The brokerage currently has a $34.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.96% from the stock’s previous close.

According to Zacks, “China Southern Airlines is one of the leading air transportation enterprises in China, especially in passenger volume and the total amount of tax and profit for the past three years. 27% market share in 1996 made it the biggest airlines in China. With the head office in Guangzhou, the southern entrance into China, it has branch fleet bases in the provinces of Henan, Hubei, Hunan, Hainan and the Special Economic Zone of Shenzhen. It is also the 60% shareholder of four regional airlines – Xiamen Airlines, Shantou Airlines, Guangxi Airlines and Zhuhai Airlines. “

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut China Southern Airlines from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Credit Suisse Group cut China Southern Airlines from a “neutral” rating to an “underperform” rating in a research note on Monday, June 10th. UBS Group raised China Southern Airlines from a “sell” rating to a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley upgraded China Southern Airlines from an “equal” rating to a “weight” rating in a report on Monday, July 22nd. Finally, ValuEngine upgraded China Southern Airlines from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. China Southern Airlines currently has a consensus rating of “Hold” and an average price target of $34.00.

Shares of NYSE ZNH traded up $0.40 during trading on Friday, reaching $29.07. The stock had a trading volume of 20,000 shares, compared to its average volume of 26,262. China Southern Airlines has a fifty-two week low of $25.45 and a fifty-two week high of $52.34. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.22 and a current ratio of 0.24. The business’s 50-day moving average price is $32.83 and its 200-day moving average price is $37.13. The company has a market cap of $7.00 billion, a P/E ratio of 14.54 and a beta of 1.74.

A number of large investors have recently added to or reduced their stakes in ZNH. Millennium Management LLC purchased a new position in China Southern Airlines in the fourth quarter valued at $242,000. Parametric Portfolio Associates LLC lifted its holdings in China Southern Airlines by 7.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 100,525 shares of the transportation company’s stock worth $3,449,000 after buying an additional 7,120 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in China Southern Airlines during the 1st quarter worth about $252,000. Renaissance Technologies LLC lifted its holdings in China Southern Airlines by 1.2% during the 2nd quarter. Renaissance Technologies LLC now owns 417,000 shares of the transportation company’s stock worth $14,307,000 after buying an additional 4,900 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in China Southern Airlines by 14.0% during the 2nd quarter. Aperio Group LLC now owns 26,872 shares of the transportation company’s stock worth $922,000 after buying an additional 3,309 shares during the last quarter. Hedge funds and other institutional investors own 0.39% of the company’s stock.

China Southern Airlines Company Profile

China Southern Airlines Company Limited provides airlines transportation services in the People's Republic of China and internationally. It operates through two segments, Airline Transportation Operations and Other Segments. The company offers passenger, cargo, mail delivery, and other extended transportation services.

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