Southwest Airlines (NYSE:LUV – Get Rating) had its price target dropped by analysts at Cowen from $67.00 to $55.00 in a research report issued on Friday, Stock Target Advisor reports. Cowen’s target price points to a potential upside of 44.17% from the stock’s current price.
A number of other brokerages have also recently weighed in on LUV. StockNews.com assumed coverage on shares of Southwest Airlines in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley lifted their price objective on shares of Southwest Airlines from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $60.00 price objective on shares of Southwest Airlines in a research note on Friday, April 29th. Susquehanna upgraded shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price objective on the stock in a research note on Tuesday, July 12th. Finally, Susquehanna Bancshares upgraded shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $45.00 price objective on the stock in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.17.
Southwest Airlines Stock Performance
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LUV traded down $0.13 on Friday, reaching $38.15. The company had a trading volume of 106,731 shares, compared to its average volume of 6,848,455. Southwest Airlines has a 1 year low of $34.36 and a 1 year high of $56.33. The stock has a market capitalization of $22.62 billion, a PE ratio of 40.45, a P/E/G ratio of 2.48 and a beta of 1.00. The company has a quick ratio of 1.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $39.68 and a 200-day moving average price of $42.79.
Southwest Airlines (NYSE:LUV – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The airline reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.39. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.69 billion. During the same period in the previous year, the company earned ($0.35) earnings per share. Southwest Airlines’s quarterly revenue was up 67.9% compared to the same quarter last year. As a group, research analysts forecast that Southwest Airlines will post 2.73 EPS for the current fiscal year.
Insider Buying and Selling
In other Southwest Airlines news, Director John T. Montford sold 2,300 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $45.70, for a total value of $105,110.00. Following the sale, the director now owns 23,296 shares of the company’s stock, valued at $1,064,627.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.
Institutional Trading of Southwest Airlines
Several institutional investors and hedge funds have recently modified their holdings of LUV. Versor Investments LP purchased a new position in shares of Southwest Airlines during the fourth quarter valued at approximately $335,000. Financial Advisory Service Inc. lifted its stake in shares of Southwest Airlines by 63.2% during the fourth quarter. Financial Advisory Service Inc. now owns 19,130 shares of the airline’s stock valued at $820,000 after buying an additional 7,408 shares during the period. Toronto Dominion Bank lifted its stake in shares of Southwest Airlines by 10.7% during the fourth quarter. Toronto Dominion Bank now owns 259,276 shares of the airline’s stock valued at $11,108,000 after buying an additional 24,966 shares during the period. Wintrust Investments LLC purchased a new position in shares of Southwest Airlines during the fourth quarter valued at approximately $273,000. Finally, Global Wealth Management Investment Advisory Inc. increased its position in Southwest Airlines by 22.6% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 2,580 shares of the airline’s stock worth $111,000 after purchasing an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 76.74% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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