Southwest Airlines (NYSE:LUV) Cut to “Peer Perform” at Wolfe Research

Wolfe Research downgraded shares of Southwest Airlines (NYSE:LUV) from an outperform rating to a peer perform rating in a research report sent to investors on Wednesday, Price Targets.com reports.

LUV has been the topic of a number of other research reports. Raymond James lowered their target price on shares of Southwest Airlines from $62.00 to $60.00 and set an outperform rating on the stock in a research note on Monday, November 29th. The Goldman Sachs Group downgraded shares of Southwest Airlines from a neutral rating to a sell rating and reduced their target price for the stock from $59.00 to $36.00 in a report on Friday, December 10th. Barclays reduced their target price on shares of Southwest Airlines from $75.00 to $65.00 and set an overweight rating on the stock in a report on Wednesday, December 15th. JPMorgan Chase & Co. upgraded shares of Southwest Airlines from a neutral rating to an overweight rating and boosted their target price for the stock from $64.00 to $70.00 in a report on Friday, October 1st. Finally, Citigroup dropped their price target on shares of Southwest Airlines from $57.00 to $55.00 and set a neutral rating for the company in a research note on Wednesday, September 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $55.72.

Southwest Airlines stock opened at $45.82 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.98 and a debt-to-equity ratio of 1.07. Southwest Airlines has a 1-year low of $38.66 and a 1-year high of $64.75. The firm has a 50-day moving average of $44.60 and a 200-day moving average of $48.50.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Wednesday, October 20th. The airline reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The company had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.58 billion. Southwest Airlines had a net margin of 0.02% and a negative return on equity of 22.34%. The firm’s quarterly revenue was up 161.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.99) earnings per share. On average, analysts expect that Southwest Airlines will post -2.18 earnings per share for the current year.

In other news, Director Thomas W. Gilligan sold 11,188 shares of the company’s stock in a transaction that occurred on Wednesday, October 27th. The shares were sold at an average price of $47.34, for a total value of $529,639.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in shares of Southwest Airlines during the 3rd quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV increased its stake in Southwest Airlines by 138.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 491 shares of the airline’s stock valued at $26,000 after purchasing an additional 285 shares in the last quarter. Herold Advisors Inc. acquired a new position in Southwest Airlines during the 3rd quarter valued at approximately $30,000. Salem Investment Counselors Inc. increased its stake in Southwest Airlines by 85.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 758 shares of the airline’s stock valued at $40,000 after purchasing an additional 350 shares in the last quarter. Finally, Arlington Partners LLC acquired a new position in Southwest Airlines during the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Southwest Airlines Company Profile

Southwest Airlines Co engages in the management of a passenger airline. It offers ancillary services such as earlybird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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