Southwest Airlines Company (LUV) Downgraded by Vetr Inc.
Southwest Airlines Company (NYSE:LUV) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Friday. They presently have a $59.16 target price on the airline’s stock. Vetr‘s price target points to a potential upside of 9.05% from the stock’s current price.
LUV has been the topic of several other research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price target on shares of Southwest Airlines in a research note on Friday, May 26th. J P Morgan Chase & Co upgraded shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research note on Friday, September 15th. Cowen and Company reiterated a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a research note on Friday, September 1st. Citigroup Inc. reiterated a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of Southwest Airlines in a research note on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.26.
Southwest Airlines (NYSE LUV) opened at 54.63 on Friday. The company has a market cap of $32.70 billion, a PE ratio of 16.75 and a beta of 1.29. The company has a 50-day moving average price of $53.62 and a 200-day moving average price of $56.82. Southwest Airlines has a 1-year low of $36.31 and a 1-year high of $64.39.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. On average, analysts expect that Southwest Airlines will post $3.70 EPS for the current fiscal year.
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In other news, Director William H. Dr Cunningham purchased 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the acquisition, the director now owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Large investors have recently modified their holdings of the stock. BDO Wealth Advisors LLC bought a new position in Southwest Airlines during the 2nd quarter valued at about $102,000. Pittenger & Anderson Inc. grew its holdings in Southwest Airlines by 13.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after purchasing an additional 250 shares during the last quarter. National Pension Service bought a new position in Southwest Airlines during the 2nd quarter valued at about $141,000. Guardian Life Insurance Co. of America grew its holdings in Southwest Airlines by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after purchasing an additional 15 shares during the last quarter. Finally, Harfst & Associates Inc. grew its holdings in Southwest Airlines by 43.8% during the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after purchasing an additional 732 shares during the last quarter. Institutional investors own 79.42% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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