Southwest Airlines Company (LUV) PT Raised to $67.00 at J P Morgan Chase & Co
Southwest Airlines Company (NYSE:LUV) had its price target raised by equities researchers at J P Morgan Chase & Co from $66.00 to $67.00 in a report released on Wednesday. The brokerage currently has an “overweight” rating on the airline’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 24.10% from the stock’s current price.
Several other equities analysts also recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $80.00 target price on shares of Southwest Airlines in a research report on Wednesday. Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Monday. Deutsche Bank AG reissued a “buy” rating and set a $71.00 target price on shares of Southwest Airlines in a research report on Friday, October 27th. Cowen and Company reissued an “outperform” rating and set a $64.00 target price (up previously from $62.00) on shares of Southwest Airlines in a research report on Friday, October 27th. Finally, Vetr downgraded Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price objective on the stock. in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.19.
Southwest Airlines (LUV) traded up $0.13 during midday trading on Wednesday, hitting $53.99. The stock had a trading volume of 3,080,692 shares, compared to its average volume of 5,221,007. The stock has a market capitalization of $32.04 billion, a P/E ratio of 15.56 and a beta of 1.31.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. equities research analysts expect that Southwest Airlines will post 3.56 earnings per share for the current year.
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In related news, Director William H. Dr Cunningham acquired 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the purchase, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LUV. Marshall Wace North America L.P. purchased a new stake in shares of Southwest Airlines during the 1st quarter worth $266,000. First Heartland Consultants Inc. lifted its stake in shares of Southwest Airlines by 0.3% during the 1st quarter. First Heartland Consultants Inc. now owns 16,293 shares of the airline’s stock worth $876,000 after purchasing an additional 43 shares during the last quarter. RDL Financial Inc. purchased a new stake in shares of Southwest Airlines during the 1st quarter worth $1,659,000. BlackRock Inc. lifted 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 worth $1,880,703,000 after purchasing an additional 34,162,752 shares during the last quarter. Finally, Epoch Investment Partners Inc. purchased a new stake in shares of Southwest Airlines during the 1st quarter worth $6,033,000. Hedge funds and other institutional investors own 79.55% of the company’s stock.
Southwest Airlines Company Profile
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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