Southwest Airlines (NYSE:LUV) Price Target Cut to $34.00 by Analysts at Susquehanna

Southwest Airlines (NYSE:LUV) had its price objective decreased by investment analysts at Susquehanna from $38.00 to $34.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the airline’s stock. Susquehanna’s price target indicates a potential upside of 11.99% from the stock’s current price.

LUV has been the topic of a number of other research reports. Barclays boosted their target price on shares of Southwest Airlines from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Bank of America reissued an “underperform” rating and set a $31.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a report on Friday, January 17th. The Goldman Sachs Group reissued a “sell” rating and issued a $28.00 price target on shares of Southwest Airlines in a report on Friday, November 15th. Citigroup reaffirmed a “sell” rating and set a $29.50 price objective (down previously from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein increased their target price on shares of Southwest Airlines from $30.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.08.

Southwest Airlines Stock Performance

Southwest Airlines stock traded down $0.12 during mid-day trading on Tuesday, reaching $30.36. 1,290,214 shares of the company’s stock were exchanged, compared to its average volume of 8,273,272. Southwest Airlines has a one year low of $23.58 and a one year high of $36.12. The firm has a market capitalization of $18.21 billion, a PE ratio of 42.16, a P/E/G ratio of 3.21 and a beta of 1.14. The business’s fifty day simple moving average is $32.97 and its 200 day simple moving average is $30.45. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. On average, sell-side analysts expect that Southwest Airlines will post 1.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Linda B. Rutherford sold 3,849 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $34.40, for a total transaction of $132,405.60. Following the completion of the transaction, the insider now owns 89,376 shares in the company, valued at $3,074,534.40. This represents a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new position in shares of Southwest Airlines during the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. raised its position in shares of Southwest Airlines by 186.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Southwest Airlines in the 3rd quarter worth approximately $33,000. TD Private Client Wealth LLC lifted its stake in shares of Southwest Airlines by 41.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after purchasing an additional 345 shares during the period. Finally, CVA Family Office LLC boosted its position in shares of Southwest Airlines by 60.6% during the third quarter. CVA Family Office LLC now owns 1,661 shares of the airline’s stock valued at $49,000 after purchasing an additional 627 shares in the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

About Southwest Airlines

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.