Wolfe Research cut shares of Southwest Airlines (NYSE:LUV) from an outperform rating to a peer perform rating in a research note issued to investors on Friday, August 24th, Marketbeat.com reports.
Several other brokerages have also recently issued reports on LUV. Citigroup decreased their target price on shares of Southwest Airlines from $67.00 to $64.00 and set a buy rating for the company in a report on Tuesday, May 29th. Tigress Financial initiated coverage on shares of Southwest Airlines in a report on Friday, May 25th. They issued a buy rating for the company. Buckingham Research reduced their price target on shares of Southwest Airlines from $70.00 to $68.00 and set a buy rating for the company in a research note on Monday, May 14th. Edward Jones upgraded shares of Southwest Airlines from a hold rating to a buy rating in a research note on Tuesday, June 12th. Finally, Deutsche Bank reduced their price target on shares of Southwest Airlines from $71.00 to $66.00 and set a buy rating for the company in a research note on Monday, June 11th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $68.45.
Southwest Airlines stock traded up $0.07 during trading hours on Friday, reaching $62.43. The stock had a trading volume of 2,926,114 shares, compared to its average volume of 3,610,095. The firm has a market cap of $35.17 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.10. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. Southwest Airlines has a 52 week low of $49.93 and a 52 week high of $66.99.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Tuesday, August 21st. Southwest Airlines’s payout ratio is 18.29%.
In other news, SVP Mark R. Shaw sold 4,910 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $58.35, for a total value of $286,498.50. Following the sale, the senior vice president now owns 11,546 shares of the company’s stock, valued at $673,709.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew M. Watterson sold 6,130 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the sale, the executive vice president now directly owns 16,597 shares in the company, valued at approximately $983,870.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,470 shares of company stock worth $674,941. 0.23% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Koch Industries Inc. bought a new position in Southwest Airlines during the 1st quarter worth about $431,000. Cetera Advisors LLC grew its holdings in Southwest Airlines by 24.6% during the 1st quarter. Cetera Advisors LLC now owns 17,096 shares of the airline’s stock worth $977,000 after acquiring an additional 3,370 shares in the last quarter. Independent Advisor Alliance bought a new position in Southwest Airlines during the 2nd quarter worth about $366,000. Cambridge Investment Research Advisors Inc. grew its holdings in Southwest Airlines by 5.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 68,870 shares of the airline’s stock worth $3,504,000 after acquiring an additional 3,593 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in Southwest Airlines by 69.7% during the 2nd quarter. Miracle Mile Advisors LLC now owns 57,873 shares of the airline’s stock worth $2,945,000 after acquiring an additional 23,773 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.
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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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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