Southwest Airlines (NYSE:LUV) PT Raised to $63.00

Southwest Airlines (NYSE:LUV) had its price objective boosted by investment analysts at Morgan Stanley from $60.00 to $63.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the airline’s stock. Morgan Stanley’s price objective suggests a potential upside of 16.84% from the company’s current price.

Several other research analysts have also commented on LUV. Argus lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Bank of America upgraded shares of Southwest Airlines to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, September 23rd. Wolfe Research upgraded shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Friday, August 16th. Tigress Financial reiterated a “buy” rating on shares of Southwest Airlines in a research note on Thursday, September 26th. Finally, Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $59.00 price objective for the company in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $57.95.

Shares of LUV opened at $53.92 on Thursday. The company has a 50 day moving average price of $53.28 and a 200-day moving average price of $52.05. Southwest Airlines has a fifty-two week low of $44.28 and a fifty-two week high of $60.86. The stock has a market capitalization of $28.75 billion, a PE ratio of 12.38, a PEG ratio of 1.40 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.64.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. Equities research analysts forecast that Southwest Airlines will post 4.27 EPS for the current year.

Several large investors have recently added to or reduced their stakes in LUV. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Southwest Airlines by 242.8% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock worth $36,000 after buying an additional 505 shares in the last quarter. American National Bank purchased a new position in shares of Southwest Airlines in the third quarter worth about $54,000. Doyle Wealth Management purchased a new position in shares of Southwest Airlines in the second quarter worth about $58,000. Clear Perspective Advisors LLC purchased a new position in shares of Southwest Airlines in the second quarter worth about $60,000. Finally, NEXT Financial Group Inc lifted its stake in shares of Southwest Airlines by 1,073.5% in the second quarter. NEXT Financial Group Inc now owns 1,197 shares of the airline’s stock worth $61,000 after buying an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Southwest Airlines Company Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 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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Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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