Southwest Airlines (NYSE:LUV – Get Free Report) had its price target reduced by equities researchers at Citigroup from $32.75 to $28.00 in a research note issued on Wednesday, FlyOnTheWall reports. Citigroup’s price objective would indicate a potential upside of 4.44% from the stock’s current price.
LUV has been the subject of several other reports. 22nd Century Group reissued a “maintains” rating on shares of Southwest Airlines in a research note on Monday, June 26th. Deutsche Bank Aktiengesellschaft cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and decreased their target price for the company from $52.00 to $38.00 in a research note on Friday, July 28th. Sanford C. Bernstein decreased their target price on shares of Southwest Airlines from $32.00 to $28.00 and set a “market perform” rating for the company in a research note on Tuesday, September 26th. Morgan Stanley decreased their target price on shares of Southwest Airlines to $50.00 and set an “overweight” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group decreased their target price on shares of Southwest Airlines from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Southwest Airlines has a consensus rating of “Hold” and a consensus price target of $35.94.
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Southwest Airlines Price Performance
NYSE LUV opened at $26.81 on Wednesday. The business has a 50 day simple moving average of $30.90 and a 200 day simple moving average of $31.86. Southwest Airlines has a 52-week low of $26.46 and a 52-week high of $40.38. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.19 and a current ratio of 1.25. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 0.58 and a beta of 1.19.
Southwest Airlines (NYSE:LUV – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The airline reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Southwest Airlines had a net margin of 2.31% and a return on equity of 5.81%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. Analysts anticipate that Southwest Airlines will post 1.93 earnings per share for the current fiscal year.
Institutional Trading of Southwest Airlines
A number of institutional investors have recently added to or reduced their stakes in the stock. Forum Financial Management LP lifted its holdings in Southwest Airlines by 4.0% during the 1st quarter. Forum Financial Management LP now owns 7,067 shares of the airline’s stock worth $323,000 after purchasing an additional 270 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Southwest Airlines by 3.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 8,639 shares of the airline’s stock worth $396,000 after purchasing an additional 300 shares in the last quarter. Utah Retirement Systems raised its holdings in shares of Southwest Airlines by 0.6% in the 4th quarter. Utah Retirement Systems now owns 50,213 shares of the airline’s stock valued at $1,691,000 after acquiring an additional 300 shares in the last quarter. WT Wealth Management raised its holdings in shares of Southwest Airlines by 1.0% in the 1st quarter. WT Wealth Management now owns 32,399 shares of the airline’s stock valued at $1,054,000 after acquiring an additional 327 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of Southwest Airlines by 0.4% in the 2nd quarter. Xponance Inc. now owns 75,325 shares of the airline’s stock valued at $2,728,000 after acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 78.22% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten 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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