Southwest Airlines (NYSE:LUV)‘s stock had its “buy” rating reissued by equities researchers at Cowen in a research report issued to clients and investors on Tuesday. They currently have a $67.00 price objective on the airline’s stock. Cowen’s price objective indicates a potential upside of 2.51% from the stock’s current price.
Several other research firms have also recently weighed in on LUV. Zacks Investment Research cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.81 price objective for the company in a research report on Monday, January 1st. ValuEngine cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Barclays restated a “hold” rating and issued a $61.00 price objective on shares of Southwest Airlines in a research report on Thursday, September 14th. Finally, Macquarie started coverage on shares of Southwest Airlines in a research report on Monday, September 25th. They issued an “outperform” rating and a $62.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.93.
Shares of Southwest Airlines (LUV) traded up $0.52 during mid-day trading on Tuesday, reaching $65.36. 3,810,000 shares of the company traded hands, compared to its average volume of 4,980,000. Southwest Airlines has a 12-month low of $48.71 and a 12-month high of $66.99. The company has a market cap of $38,780.00, a P/E ratio of 18.73, a P/E/G ratio of 1.37 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. equities research analysts predict that Southwest Airlines will post 3.52 earnings per share for the current year.
In other news, Director John T. Montford sold 1,695 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $63.27, for a total transaction of $107,242.65. Following the completion of the sale, the director now owns 23,098 shares in the company, valued at approximately $1,461,410.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John T. Montford sold 935 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,593 shares of company stock valued at $2,279,660. 0.21% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of LUV. BB&T Investment Services Inc. boosted its stake in Southwest Airlines by 325.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after acquiring an additional 1,211 shares during the last quarter. Grove Bank & Trust boosted its stake in Southwest Airlines by 365.0% during the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock worth $134,000 after acquiring an additional 1,880 shares during the last quarter. Harfst & Associates Inc. boosted its stake in Southwest Airlines by 43.8% during the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock worth $149,000 after acquiring an additional 732 shares during the last quarter. Smith Moore & CO. bought a new position in Southwest Airlines during the 3rd quarter worth approximately $206,000. Finally, Courier Capital LLC bought a new position in Southwest Airlines during the 3rd quarter worth approximately $208,000. Institutional investors own 78.55% of the company’s stock.
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Southwest Airlines Company Profile
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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