Morgan Stanley Trims Southwest Airlines (NYSE:LUV) Target Price to $76.00

Southwest Airlines (NYSE:LUV) had its price objective trimmed by Morgan Stanley from $80.00 to $76.00 in a research report report published on Tuesday, Analyst Price Targets reports. The brokerage currently has an overweight rating on the airline’s stock.

A number of other brokerages have also commented on LUV. MKM Partners decreased their price target on shares of Southwest Airlines from $74.00 to $67.00 and set a buy rating on the stock in a report on Friday, July 23rd. The Goldman Sachs Group reaffirmed a buy rating and issued a $51.30 price objective on shares of Southwest Airlines in a research note on Tuesday, July 27th. Citigroup assumed coverage on shares of Southwest Airlines in a research note on Wednesday, August 11th. They issued a buy rating for the company. Jefferies Financial Group reaffirmed a buy rating and issued a $51.24 price objective (down previously from $75.00) on shares of Southwest Airlines in a research note on Monday, July 26th. Finally, Evercore ISI cut their price objective on shares of Southwest Airlines from $70.00 to $62.00 and set an outperform rating for the company in a research note on Friday, September 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $59.68.

Southwest Airlines stock opened at $48.03 on Tuesday. The firm’s 50 day simple moving average is $50.21 and its 200 day simple moving average is $56.29. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $28.42 billion, a PE ratio of -17.53 and a beta of 1.24. Southwest Airlines has a 1-year low of $35.82 and a 1-year high of $64.75.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Wednesday, July 21st. The airline reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.12). The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.94 billion. Southwest Airlines had a negative return on equity of 33.72% and a negative net margin of 16.23%. The business’s revenue was up 297.6% on a year-over-year basis. During the same period last year, the company posted ($2.67) EPS. Research analysts forecast that Southwest Airlines will post -1.55 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Main Street Research LLC lifted its position in shares of Southwest Airlines by 6.1% in the 1st quarter. Main Street Research LLC now owns 410,884 shares of the airline’s stock worth $25,089,000 after purchasing an additional 23,578 shares during the period. Brookfield Asset Management Inc. purchased a new stake in shares of Southwest Airlines in the 1st quarter worth about $1,484,000. Advisor Partners LLC increased its stake in shares of Southwest Airlines by 14.5% in the 1st quarter. Advisor Partners LLC now owns 18,655 shares of the airline’s stock worth $1,139,000 after acquiring an additional 2,356 shares in the last quarter. TownSquare Capital LLC increased its stake in shares of Southwest Airlines by 170.7% in the 1st quarter. TownSquare Capital LLC now owns 20,250 shares of the airline’s stock worth $1,236,000 after acquiring an additional 12,770 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Southwest Airlines by 3.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 141,884 shares of the airline’s stock worth $7,532,000 after acquiring an additional 4,709 shares in the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.

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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