Southwest Airlines (NYSE:LUV) Price Target Cut to $55.00 by Analysts at Cowen

Southwest Airlines (NYSE:LUVGet Rating) had its price target reduced by Cowen from $67.00 to $55.00 in a research report sent to investors on Friday morning, Stock Target Advisor reports.

Several other analysts have also recently commented on the company. Cowen reduced their price target on Southwest Airlines from $67.00 to $55.00 in a report on Friday. Morgan Stanley raised their price target on Southwest Airlines from $65.00 to $67.00 and gave the company an overweight rating in a report on Monday, April 4th. Susquehanna raised Southwest Airlines from a neutral rating to a positive rating and set a $45.00 price target for the company in a report on Tuesday, July 12th. Susquehanna Bancshares raised Southwest Airlines from a neutral rating to a positive rating and set a $45.00 price target for the company in a report on Tuesday, July 12th. Finally, Barclays reduced their price objective on Southwest Airlines from $58.00 to $50.00 and set an overweight rating for the company in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Southwest Airlines currently has an average rating of Moderate Buy and a consensus target price of $52.56.

Southwest Airlines Trading Up 0.5 %

Shares of LUV stock opened at $38.31 on Friday. The business’s 50 day moving average is $39.49 and its two-hundred day moving average is $42.64. Southwest Airlines has a twelve month low of $34.36 and a twelve month high of $56.33. The company has a market capitalization of $22.72 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 2.34 and a beta of 1.00. The company has a current ratio of 1.66, a quick ratio of 1.59 and a debt-to-equity ratio of 0.80.

Southwest Airlines (NYSE:LUVGet Rating) last announced its earnings results on Thursday, July 28th. The airline reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.39. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same period last year, the business posted ($0.35) EPS. The company’s revenue was up 67.9% on a year-over-year basis. Equities analysts forecast that Southwest Airlines will post 2.71 EPS for the current year.

Insider Activity

In other news, Director John T. Montford sold 2,300 shares of Southwest Airlines stock in a transaction on 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 sale, the director now owns 23,296 shares of the company’s stock, valued at $1,064,627.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Southwest Airlines

A number of institutional investors have recently added to or reduced their stakes in LUV. Oldfield Partners LLP purchased a new stake in Southwest Airlines during the first quarter valued at about $107,911,000. Scout Investments Inc. purchased a new stake in shares of Southwest Airlines in the first quarter worth about $92,502,000. Vanguard Group Inc. boosted its position in shares of Southwest Airlines by 2.0% in the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after buying an additional 1,213,767 shares during the period. Renaissance Technologies LLC boosted its position in shares of Southwest Airlines by 39.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,815,980 shares of the airline’s stock worth $120,637,000 after buying an additional 795,400 shares during the period. Finally, Ruffer LLP purchased a new stake in shares of Southwest Airlines in the fourth quarter worth about $32,581,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.

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.

See Also

Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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