Barclays Trims Southwest Airlines (NYSE:LUV) Target Price to $50.00

Southwest Airlines (NYSE:LUV – Get Rating) had its price objective cut by equities researchers at Barclays from $58.00 to $50.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the airline’s stock. Barclays‘s target price points to a potential upside of 41.32% from the company’s current price.

LUV has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Southwest Airlines from $62.00 to $72.00 in a research report on Friday, April 29th. Morgan Stanley raised their price objective on shares of Southwest Airlines from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $60.00 price objective on shares of Southwest Airlines in a research report on Friday, April 29th. Raymond James upgraded shares of Southwest Airlines from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $57.00 to $55.00 in a research report on Thursday. Finally, Evercore ISI upgraded shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.56.

Shares of LUV stock traded down $0.31 on Thursday, hitting $35.38. The stock had a trading volume of 98,295 shares, compared to its average volume of 5,158,620. The business has a 50 day moving average of $43.56 and a 200 day moving average of $43.56. The stock has a market cap of $20.98 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.87 and a quick ratio of 1.81. Southwest Airlines has a 12-month low of $34.36 and a 12-month high of $56.33.

Southwest Airlines (NYSE:LUV – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.67 billion. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. The firm’s revenue for the quarter was up 128.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.72) earnings per share. As a group, research analysts expect that Southwest Airlines will post 2.66 earnings per share for the current fiscal year.

In other Southwest Airlines news, Director John T. Montford sold 2,300 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $45.70, for a total value of $105,110.00. Following the completion of the transaction, the director now owns 23,296 shares of the company’s stock, valued at approximately $1,064,627.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of LUV. Vanguard Group Inc. increased its position in shares of Southwest Airlines by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock valued at $2,886,717,000 after purchasing an additional 1,213,767 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Southwest Airlines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 10,680,408 shares of the airline’s stock valued at $456,702,000 after purchasing an additional 78,886 shares during the last quarter. U S Global Investors Inc. grew its stake in shares of Southwest Airlines by 1.0% during the 1st quarter. U S Global Investors Inc. now owns 7,162,933 shares of the airline’s stock valued at $328,062,000 after acquiring an additional 69,278 shares during the period. Northern Trust Corp grew its stake in shares of Southwest Airlines by 2.2% during the 1st quarter. Northern Trust Corp now owns 4,854,746 shares of the airline’s stock valued at $222,347,000 after acquiring an additional 104,191 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Southwest Airlines by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,317,071 shares of the airline’s stock valued at $197,717,000 after acquiring an additional 40,437 shares during the period. 76.74% of the stock is owned by institutional investors and hedge funds.

Southwest Airlines Company Profile (Get Rating)

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, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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