Southwest Airlines (NYSE:LUV) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Friday, The Fly reports. The brokerage presently has a $57.00 price target on the airline’s stock. Wolfe Research’s target price would indicate a potential upside of 18.23% from the stock’s current price.
Several other research analysts also recently commented on LUV. Barclays decreased their price objective on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Morgan Stanley decreased their price objective on Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday. Imperial Capital reaffirmed an “in-line” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Southwest Airlines in a research note on Friday, April 26th. Cowen reaffirmed a “market perform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Finally, Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.15.
LUV stock opened at $48.21 on Friday. Southwest Airlines has a fifty-two week low of $44.28 and a fifty-two week high of $64.02. The business’s 50-day moving average is $51.65 and its two-hundred day moving average is $52.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.64. The company has a market cap of $26.83 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.08 and a beta of 1.50.
Large investors have recently added to or reduced their stakes in the stock. Mutual Advisors LLC grew its holdings in Southwest Airlines by 3.2% during the 2nd quarter. Mutual Advisors LLC now owns 14,924 shares of the airline’s stock valued at $758,000 after buying an additional 462 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Southwest Airlines by 5.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 82,278 shares of the airline’s stock valued at $4,178,000 after buying an additional 4,323 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Southwest Airlines during the 2nd quarter valued at approximately $745,000. Worldquant Millennium Advisors LLC grew its holdings in Southwest Airlines by 18.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 68,096 shares of the airline’s stock valued at $3,458,000 after buying an additional 10,683 shares in the last quarter. Finally, Doyle Wealth Management purchased a new position in Southwest Airlines during the 2nd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 84.25% of the company’s stock.
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, 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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