Southwest Airlines (NYSE:LUV) had its price objective increased by Credit Suisse Group from $46.00 to $51.00 in a research report report published on Friday, The Fly reports. Credit Suisse Group currently has an outperform rating on the airline’s stock.
LUV has been the topic of a number of other reports. Citigroup lowered their target price on shares of Southwest Airlines from $38.00 to $36.00 and set a neutral rating on the stock in a research note on Monday, July 27th. Morgan Stanley increased their price target on shares of Southwest Airlines from $54.00 to $56.00 and gave the company an overweight rating in a research report on Monday, October 5th. Berenberg Bank upgraded shares of Southwest Airlines from a hold rating to a buy rating and increased their price target for the company from $37.00 to $45.00 in a research report on Wednesday, September 2nd. Cowen increased their price target on shares of Southwest Airlines from $43.00 to $46.00 and gave the company an outperform rating in a research report on Friday. Finally, Goldman Sachs Group upgraded shares of Southwest Airlines from a sell rating to a buy rating and increased their price target for the company from $35.00 to $47.00 in a research report on Sunday, June 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Southwest Airlines currently has an average rating of Buy and a consensus target price of $47.10.
Shares of LUV opened at $41.10 on Friday. The firm’s 50 day simple moving average is $39.29 and its 200 day simple moving average is $34.52. The company has a market capitalization of $24.24 billion, a P/E ratio of 102.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.70 and a quick ratio of 1.65. Southwest Airlines has a 1-year low of $22.47 and a 1-year high of $58.83.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 22nd. The airline reported ($1.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.35) by $0.36. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.71 billion. Southwest Airlines had a net margin of 0.99% and a negative return on equity of 4.11%. Southwest Airlines’s quarterly revenue was down 68.2% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. On average, equities analysts anticipate that Southwest Airlines will post -6.87 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in LUV. Tower Research Capital LLC TRC purchased a new position in Southwest Airlines during the first quarter valued at $55,000. Mercer Global Advisors Inc. ADV lifted its position in Southwest Airlines by 6.0% during the first quarter. Mercer Global Advisors Inc. ADV now owns 23,772 shares of the airline’s stock valued at $847,000 after buying an additional 1,346 shares during the period. Modus Advisors LLC purchased a new position in Southwest Airlines during the second quarter valued at $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Southwest Airlines by 8.6% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,620 shares of the airline’s stock valued at $362,000 after buying an additional 840 shares during the period. Finally, Fulton Bank N. A. lifted its position in Southwest Airlines by 52.3% during the second quarter. Fulton Bank N. A. now owns 35,413 shares of the airline’s stock valued at $1,210,000 after buying an additional 12,167 shares during the period. 72.73% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2019, the company operated a total of 747 Boeing 737 aircraft; and served 101 destinations in 40 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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