Southwest Airlines Received its Third Buy in a RowBy Carrie Williams
After Merrill Lynch and Credit Suisse assigned a Buy rating to Southwest Airlines in the last month, the company received another Buy, this time from J.P. Morgan. Analyst Jamie Baker upgraded Southwest Airlines (NYSE: LUV) to Buy today. The company’s shares opened today at $38.50.
According to TipRanks.com, Baker is a 1-star analyst with an average return of -4.2% and a 48.1% success rate. Baker covers the Services sector, focusing on stocks such as Fly Leasing Limited, United Continental, and Aircastle Limited.
Southwest Airlines has an analyst consensus of Strong Buy, with a price target consensus of $46.
The company has a one year high of $51.34 and a one year low of $33.96. Currently, Southwest Airlines has an average volume of 7.19M.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LUV in relation to earlier this year. Most recently, in April 2016, David Biegler, a Director at LUV sold 8,000 shares for a total of $375,520.
Southwest Airlines Co. provides scheduled air transportation services in the United States and near international markets. The company operates Southwest Airlines and AirTran Airways major passenger airlines that provide scheduled air transportation services. AirTran Airways operates fleet of airline services using Boeing 717-200 aircraft and Boeing 737-700 aircraft throughout the United States and to select international locations. Southwest Airlines was founded by Rollin W. King and Herbert D. Kelleher on March 15, 1967 and is headquartered in Dallas, TX.