Vetr Downgrades Southwest Airlines (LUV) to Strong Sell
Southwest Airlines (NYSE:LUV) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday. They currently have a $54.06 price objective on the airline’s stock. Vetr‘s target price would indicate a potential downside of 11.55% from the company’s previous close.
Several other analysts have also recently weighed in on the company. Citigroup reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $65.00) on shares of Southwest Airlines in a report on Thursday, September 7th. J P Morgan Chase & Co raised their price target on Southwest Airlines from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research cut Southwest Airlines from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Southwest Airlines in a report on Tuesday, September 12th. Finally, Cowen reissued a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a report on Friday, September 1st. Two 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 a consensus rating of “Buy” and a consensus price target of $66.89.
Shares of Southwest Airlines (NYSE:LUV) opened at $61.12 on Tuesday. Southwest Airlines has a 1-year low of $47.40 and a 1-year high of $64.39. The firm has a market capitalization of $36,807.83, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.34. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. equities research analysts forecast that Southwest Airlines will post 3.56 earnings per share for the current year.
In related news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LUV. Boston Partners grew its position in Southwest Airlines by 101.7% during the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after acquiring an additional 2,511,258 shares during the last quarter. Janus Henderson Group PLC grew its position in Southwest Airlines by 171.7% during the 3rd quarter. Janus Henderson Group PLC now owns 1,821,985 shares of the airline’s stock worth $101,994,000 after acquiring an additional 1,151,371 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Southwest Airlines by 35.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after acquiring an additional 1,090,189 shares during the last quarter. Ameriprise Financial Inc. grew its position in Southwest Airlines by 13.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after acquiring an additional 1,026,892 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Southwest Airlines by 65.4% during the 2nd quarter. Wells Fargo & Company MN now owns 2,555,887 shares of the airline’s stock worth $158,823,000 after acquiring an additional 1,010,966 shares during the last quarter. Institutional investors and hedge funds own 78.87% 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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