China Southern Airlines (NYSE:ZNH) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of China Southern Airlines (NYSE:ZNH) from a hold rating to a strong-buy rating in a report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $34.00 price objective on the transportation company’s stock.

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 brokerages also recently issued reports on ZNH. UBS Group upgraded shares of China Southern Airlines from a sell rating to a neutral rating in a report on Monday, July 15th. Credit Suisse Group downgraded shares of China Southern Airlines from a neutral rating to an underperform rating in a report on Monday, June 10th. Morgan Stanley upgraded shares of China Southern Airlines from an equal rating to a weight rating in a report on Monday, July 22nd. ValuEngine upgraded shares of China Southern Airlines from a sell rating to a hold rating in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. downgraded shares of China Southern Airlines from an overweight rating to a neutral rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. China Southern Airlines presently has a consensus rating of Hold and an average target price of $34.00.

Shares of NYSE ZNH opened at $29.73 on Friday. The company has a 50 day simple moving average of $32.44 and a 200-day simple moving average of $36.99. The company has a market capitalization of $7.13 billion, a P/E ratio of 14.87 and a beta of 1.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.24 and a quick ratio of 0.22. China Southern Airlines has a 1 year low of $25.45 and a 1 year high of $52.34.

Several hedge funds and other institutional investors have recently made changes to their positions in ZNH. US Bancorp DE boosted its position in shares of China Southern Airlines by 349.4% during the 2nd quarter. US Bancorp DE now owns 737 shares of the transportation company’s stock worth $26,000 after purchasing an additional 573 shares during the period. Investors Research Corp purchased a new position in shares of China Southern Airlines during the 1st quarter worth approximately $48,000. JPMorgan Chase & Co. boosted its position in shares of China Southern Airlines by 330.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,100 shares of the transportation company’s stock worth $71,000 after purchasing an additional 1,612 shares during the period. Royal Bank of Canada boosted its position in shares of China Southern Airlines by 13.3% during the 2nd quarter. Royal Bank of Canada now owns 5,624 shares of the transportation company’s stock worth $193,000 after purchasing an additional 658 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of China Southern Airlines during the 1st quarter worth approximately $252,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

About China Southern Airlines

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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