Raymond James Increases Southwest Airlines (NYSE:LUV) Price Target to $71.00

Southwest Airlines (NYSE:LUV) had its price objective raised by Raymond James from $54.00 to $71.00 in a research note published on Monday morning, The Fly reports. The firm currently has an outperform rating on the airline’s stock.

LUV has been the topic of a number of other reports. Citigroup boosted their target price on shares of Southwest Airlines from $40.00 to $50.00 in a research report on Tuesday, January 19th. Argus raised shares of Southwest Airlines from a hold rating to a buy rating and set a $68.00 price target for the company in a research report on Monday, March 29th. Zacks Investment Research raised shares of Southwest Airlines from a sell rating to a hold rating and set a $65.00 price objective for the company in a report on Wednesday, March 31st. The Goldman Sachs Group boosted their price objective on Southwest Airlines from $47.00 to $69.00 and gave the company a buy rating in a report on Tuesday, March 16th. Finally, Morgan Stanley boosted their price target on Southwest Airlines from $59.00 to $80.00 and gave the company an overweight rating in a report on Tuesday, April 6th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $59.24.

Shares of Southwest Airlines stock opened at $62.94 on Monday. The business’s fifty day moving average price is $60.43 and its 200 day moving average price is $48.96. Southwest Airlines has a twelve month low of $22.47 and a twelve month high of $64.75. The company has a current ratio of 2.07, a quick ratio of 2.01 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.22 billion, a P/E ratio of -22.56, a PEG ratio of 139.97 and a beta of 1.23.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Wednesday, January 27th. The airline reported ($1.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.68) by $0.39. Southwest Airlines had a negative net margin of 12.94% and a negative return on equity of 22.65%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The business’s quarterly revenue was down 64.9% compared to the same quarter last year. As a group, sell-side analysts predict that Southwest Airlines will post -6.54 EPS for the current year.

In other Southwest Airlines news, COO De Ven Michael G. Van sold 32,522 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $56.06, for a total transaction of $1,823,183.32. Following the transaction, the chief operating officer now directly owns 262,319 shares in the company, valued at $14,705,603.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John T. Montford sold 500 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $61.85, for a total transaction of $30,925.00. Following the completion of the transaction, the director now owns 22,332 shares in the company, valued at $1,381,234.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,418 shares of company stock valued at $3,225,340. Insiders own 0.28% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LUV. CX Institutional raised its stake in shares of Southwest Airlines by 8.4% in the first quarter. CX Institutional now owns 2,086 shares of the airline’s stock valued at $127,000 after purchasing an additional 161 shares in the last quarter. People s United Financial Inc. grew its stake in Southwest Airlines by 2.6% during the fourth quarter. People s United Financial Inc. now owns 7,695 shares of the airline’s stock worth $359,000 after buying an additional 192 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Southwest Airlines by 3.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,015 shares of the airline’s stock valued at $327,000 after acquiring an additional 203 shares during the last quarter. Novak Financial Planning LLC increased its holdings in Southwest Airlines by 3.6% during the 1st quarter. Novak Financial Planning LLC now owns 5,948 shares of the airline’s stock valued at $363,000 after purchasing an additional 208 shares in the last quarter. Finally, Family Legacy Inc. grew its holdings in shares of Southwest Airlines by 2.5% during the first quarter. Family Legacy Inc. now owns 8,780 shares of the airline’s stock worth $536,000 after purchasing an additional 215 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors and hedge funds.

Southwest Airlines Company Profile

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, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 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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The Fly

Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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