Vetr upgraded shares of Southwest Airlines Company (NYSE:LUV) from a sell rating to a buy rating in a research report released on Monday. The firm currently has $55.93 price objective on the airline’s stock.
Several other equities analysts also recently commented on LUV. BidaskClub downgraded Southwest Airlines from a buy rating to a hold rating in a research report on Monday, July 24th. Cowen and Company reiterated a buy rating and issued a $67.00 target price on shares of Southwest Airlines in a research report on Friday, July 28th. Zacks Investment Research downgraded Southwest Airlines from a buy rating to a hold rating in a research report on Tuesday, August 1st. Morgan Stanley set a $64.00 target price on Southwest Airlines and gave the company a buy rating in a research report on Thursday, August 17th. Finally, Wolfe Research upgraded Southwest Airlines from a market perform rating to an outperform rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $67.00.
Shares of Southwest Airlines (LUV) traded down $0.24 during mid-day trading on Monday, hitting $53.25. The company had a trading volume of 2,982,000 shares, compared to its average volume of 5,235,721. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. Southwest Airlines has a twelve month low of $43.88 and a twelve month high of $64.39. The company has a market cap of $31,850.00, a P/E ratio of 15.41, a P/E/G ratio of 1.77 and a beta of 1.31.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the company earned $0.93 EPS. Southwest Airlines’s revenue for the quarter was up 2.6% on a year-over-year basis. analysts anticipate that Southwest Airlines will post 3.56 EPS for the current year.
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In related news, Director John T. Montford sold 935 shares of the firm’s 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 completion of the sale, the director now owns 25,000 shares of the company’s stock, valued at $1,348,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in Southwest Airlines in the third quarter valued at approximately $46,406,000. Cowen Inc. acquired a new stake in Southwest Airlines in the third quarter valued at approximately $1,400,000. Asset Management One Co. Ltd. grew its stake in Southwest Airlines by 2.8% in the third quarter. Asset Management One Co. Ltd. now owns 280,423 shares of the airline’s stock valued at $15,707,000 after acquiring an additional 7,749 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Southwest Airlines by 14.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,727 shares of the airline’s stock valued at $5,023,000 after acquiring an additional 11,398 shares during the period. Finally, AMP Capital Investors Ltd grew its stake in Southwest Airlines by 53.1% in the third quarter. AMP Capital Investors Ltd now owns 297,359 shares of the airline’s stock valued at $16,645,000 after acquiring an additional 103,121 shares during the period. 80.15% of the stock is owned by hedge funds and other institutional investors.
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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