Southwest Airlines (NYSE:LUV) Lifted to “Strong-Buy” at Raymond James
Southwest Airlines (NYSE:LUV – Get Rating) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Thursday, The Fly reports.
LUV has been the subject of several other reports. StockNews.com began coverage on shares of Southwest Airlines in a research report on Thursday, March 31st. They set a “hold” rating for the company. Citigroup boosted their target price on shares of Southwest Airlines from $48.00 to $53.00 in a research report on Monday, May 2nd. Barclays decreased their target price on shares of Southwest Airlines from $59.00 to $55.00 in a research report on Thursday, April 7th. Morgan Stanley upped their price objective on shares of Southwest Airlines from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. Finally, Evercore ISI raised shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Southwest Airlines has an average rating of “Moderate Buy” and a consensus target price of $54.00.
LUV opened at $35.69 on Thursday. Southwest Airlines has a 1-year low of $34.36 and a 1-year high of $56.33. The company has a current ratio of 1.87, a quick ratio of 1.81 and a debt-to-equity ratio of 0.99. The company has a market cap of $21.16 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 2.22 and a beta of 0.92. The company has a fifty day moving average price of $43.56 and a two-hundred day moving average price of $43.56.
Southwest Airlines (NYSE:LUV – Get Rating) last posted its earnings results on Thursday, April 28th. The airline reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.67 billion. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. The firm’s revenue for the quarter was up 128.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.72) earnings per share. On average, research analysts forecast that Southwest Airlines will post 2.66 EPS for the current fiscal year.
In other Southwest Airlines news, Director John T. Montford sold 2,300 shares of the business’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 transaction, the director now directly owns 23,296 shares in the company, valued at $1,064,627.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. lifted its stake in shares of Southwest Airlines by 42.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,268 shares of the airline’s stock valued at $928,000 after buying an additional 6,038 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Southwest Airlines by 16.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,894 shares of the airline’s stock valued at $6,086,000 after buying an additional 18,624 shares in the last quarter. City State Bank lifted its stake in Southwest Airlines by 43.2% in the 1st quarter. City State Bank now owns 2,985 shares of the airline’s stock worth $137,000 after purchasing an additional 900 shares in the last quarter. WealthTrust Asset Management LLC lifted its stake in Southwest Airlines by 4.7% in the 1st quarter. WealthTrust Asset Management LLC now owns 44,072 shares of the airline’s stock worth $2,018,000 after purchasing an additional 1,965 shares in the last quarter. Finally, Garde Capital Inc. lifted its stake in Southwest Airlines by 10.1% in the 1st quarter. Garde Capital Inc. now owns 22,931 shares of the airline’s stock worth $1,050,000 after purchasing an additional 2,110 shares in the last quarter. Institutional investors own 76.74% of the company’s stock.
Southwest Airlines Company Profile (Get Rating)
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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