Southwest Airlines Company (LUV) Price Target Raised to $67.00

Southwest Airlines Company (NYSE:LUV) had its price objective increased by J P Morgan Chase & Co from $66.00 to $67.00 in a research note issued to investors on Wednesday morning. They currently have an overweight rating on the airline’s stock.

Other equities research analysts have also issued reports about the company. Deutsche Bank AG restated a buy rating and issued a $71.00 price objective on shares of Southwest Airlines in a research note on Friday, October 27th. Cowen and Company restated a buy rating and issued a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub lowered Southwest Airlines from a hold rating to a sell rating in a research note on Sunday, July 30th. Morgan Stanley restated an overweight rating on shares of Southwest Airlines in a research note on Tuesday, September 12th. Finally, Zacks Investment Research lowered Southwest Airlines from a hold rating to a sell rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $67.19.

Shares of Southwest Airlines (NYSE LUV) opened at $54.14 on Wednesday. The firm has a market cap of $32.13 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.79 and a beta of 1.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 0.61. Southwest Airlines has a 12 month low of $39.56 and a 12 month high of $64.39.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. equities research analysts predict that Southwest Airlines will post 3.56 earnings per share for the current year.

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In related news, Director William H. Dr Cunningham acquired 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $54.00 per share, with a total value of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its holdings in shares of Southwest Airlines by 7.7% during the 2nd quarter. Macquarie Group Ltd. now owns 216,819 shares of the airline’s stock valued at $13,472,000 after purchasing an additional 15,575 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Southwest Airlines by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,121 shares of the airline’s stock valued at $28,965,000 after purchasing an additional 10,851 shares during the last quarter. Columbus Circle Investors boosted its holdings in shares of Southwest Airlines by 28.2% during the 2nd quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock valued at $13,727,000 after purchasing an additional 48,632 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in shares of Southwest Airlines by 912.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 49,855 shares of the airline’s stock valued at $3,091,000 after purchasing an additional 44,932 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Southwest Airlines by 5.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 100,019 shares of the airline’s stock valued at $6,215,000 after purchasing an additional 5,188 shares during the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.

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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