Southwest Airlines (NYSE:LUV) had its target price decreased by Buckingham Research from $73.00 to $65.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the airline’s stock. Buckingham Research’s target price would indicate a potential upside of 31.10% from the company’s previous close.
A number of other equities research analysts have also weighed in on the stock. Imperial Capital reaffirmed an “outperform” rating and set a $66.00 target price (up previously from $60.00) on shares of Southwest Airlines in a research note on Thursday, September 27th. Morgan Stanley reaffirmed a “buy” rating on shares of Southwest Airlines in a research note on Tuesday, August 14th. Macquarie raised shares of Southwest Airlines to an “outperform” rating in a research note on Tuesday, September 18th. Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Friday, September 7th. Finally, Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Wednesday, October 3rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Southwest Airlines presently has an average rating of “Buy” and an average price target of $67.78.
Southwest Airlines stock traded down $0.33 during trading hours on Friday, reaching $49.58. The stock had a trading volume of 657,743 shares, compared to its average volume of 5,204,073. The firm has a market cap of $33.16 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Southwest Airlines has a 52 week low of $49.02 and a 52 week high of $66.99. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.
In other Southwest Airlines news, EVP Andrew M. Watterson sold 6,130 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the sale, the executive vice president now directly owns 16,597 shares of the company’s stock, valued at $983,870.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark R. Shaw sold 4,910 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $58.35, for a total transaction of $286,498.50. Following the sale, the senior vice president now directly owns 11,546 shares of the company’s stock, valued at $673,709.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,470 shares of company stock valued at $674,941. 0.23% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in LUV. ACG Wealth boosted its holdings in Southwest Airlines by 18.6% in the third quarter. ACG Wealth now owns 45,188 shares of the airline’s stock valued at $2,822,000 after purchasing an additional 7,098 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Southwest Airlines by 3,172.6% during the second quarter. Salem Investment Counselors Inc. now owns 22,843 shares of the airline’s stock worth $1,162,000 after purchasing an additional 22,145 shares during the period. Wills Financial Group Inc. purchased a new position in Southwest Airlines in the second quarter worth $1,222,000. Independent Advisor Alliance purchased a new position in Southwest Airlines in the second quarter worth $366,000. Finally, CSat Investment Advisory L.P. purchased a new position in Southwest Airlines in the second quarter worth $1,177,000. 78.03% of the stock is owned by institutional investors and hedge funds.
About Southwest Airlines
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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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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