Southwest Airlines Company (NYSE:LUV)‘s stock had its “buy” rating restated by Citigroup Inc. in a research report issued to clients and investors on Thursday, September 7th. They currently have a $64.00 price objective on the airline’s stock, down from their previous price objective of $65.00. Citigroup Inc.’s target price indicates a potential upside of 16.96% from the company’s current price.
Several other analysts have also recently issued reports on LUV. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. BidaskClub cut Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 target price on shares of Southwest Airlines in a research report on Thursday, July 13th. Finally, Vetr raised Southwest Airlines from a “sell” rating to a “hold” rating and set a $62.02 target price on the stock in a research report on Monday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $67.77.
Shares of Southwest Airlines (LUV) opened at 54.72 on Thursday. The firm has a 50-day moving average price of $53.74 and a 200 day moving average price of $56.91. The company has a market capitalization of $32.75 billion, a P/E ratio of 16.78 and a beta of 1.29. Southwest Airlines has a 12-month low of $36.31 and a 12-month high of $64.39.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. Southwest Airlines’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.19 EPS. On average, equities research analysts predict that Southwest Airlines will post $3.73 earnings per share for the current year.
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In related news, Director William H. Dr Cunningham acquired 4,500 shares of Southwest Airlines stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the purchase, the director now owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Southwest Airlines by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock valued at $2,069,695,000 after buying an additional 286,456 shares during the last quarter. BlackRock Inc. raised its stake in shares of Southwest Airlines by 4,163.3% during the 1st quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock valued at $1,880,703,000 after buying an additional 34,162,752 shares during the last quarter. State Street Corp raised its stake in shares of Southwest Airlines by 1.5% during the 1st quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock valued at $1,262,308,000 after buying an additional 353,960 shares during the last quarter. Egerton Capital UK LLP raised its stake in shares of Southwest Airlines by 39.0% during the 1st quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock valued at $505,416,000 after buying an additional 2,638,743 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Southwest Airlines by 13.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after buying an additional 1,026,892 shares during the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.
About Southwest Airlines
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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