Southwest Airlines Co. (NYSE:LUV – Get Free Report) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $43.50 and traded as high as $43.81. Southwest Airlines shares last traded at $43.5420, with a volume of 7,169,440 shares traded.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on LUV. Barclays cut their target price on shares of Southwest Airlines from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, September 11th. Susquehanna lowered their price objective on shares of Southwest Airlines from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Weiss Ratings raised Southwest Airlines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. reduced their target price on Southwest Airlines from $59.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Finally, BMO Capital Markets lowered their target price on Southwest Airlines from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.51.
Check Out Our Latest Stock Analysis on Southwest Airlines
Southwest Airlines Trading Up 0.5%
The company has a market cap of $21.39 billion, a P/E ratio of 21.01, a PEG ratio of 1.19 and a beta of 1.16. The stock’s 50 day moving average is $40.70 and its 200-day moving average is $43.50. The company has a current ratio of 0.47, a quick ratio of 0.40 and a debt-to-equity ratio of 0.51.
Southwest Airlines (NYSE:LUV – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The airline reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. The business had revenue of $8.42 billion during the quarter, compared to analyst estimates of $8.25 billion. Southwest Airlines had a net margin of 3.34% and a return on equity of 18.05%. Southwest Airlines’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. Research analysts anticipate that Southwest Airlines Co. will post 2.75 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of LUV. Scarborough Advisors LLC purchased a new stake in Southwest Airlines in the first quarter worth $28,000. Fiduciary Financial Advisors purchased a new stake in shares of Southwest Airlines during the second quarter valued at $32,000. Archer Investment Corp purchased a new stake in shares of Southwest Airlines during the second quarter valued at $32,000. Grove Bank & Trust grew its holdings in shares of Southwest Airlines by 109.4% in the second quarter. Grove Bank & Trust now owns 871 shares of the airline’s stock worth $45,000 after purchasing an additional 455 shares during the last quarter. Finally, MidFirst Bank bought a new position in shares of Southwest Airlines in the second quarter worth about $48,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.
Southwest Airlines Company Profile
Southwest Airlines Co is a major U.S. passenger airline headquartered in Dallas, Texas. The company provides scheduled air transportation for leisure and business travelers, with service connecting cities throughout the United States and selected destinations in Mexico, the Caribbean, and Central America.
Southwest is known for its predominantly domestic network and point-to-point operating model. In addition to passenger flights, the company offers ancillary services and air cargo transportation.
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