Southwest Airlines (NYSE:LUV) was upgraded by equities researchers at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a $66.00 price objective on the airline's stock, up from their prior price objective of $44.00. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 6.40% from the stock's previous close.
A number of other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Southwest Airlines from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a research note on Monday, March 1st. Morgan Stanley boosted their price target on shares of Southwest Airlines from $59.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, April 13th. Credit Suisse Group boosted their price target on shares of Southwest Airlines from $51.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, January 29th. Citigroup boosted their price target on shares of Southwest Airlines from $40.00 to $50.00 in a research report on Tuesday, January 19th. Finally, Zacks Investment Research raised shares of Southwest Airlines from a "sell" rating to a "hold" rating and set a $65.00 price target on the stock in a research report on Wednesday, March 31st. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of "Buy" and a consensus target price of $59.24.
LUV opened at $62.03 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.07 and a debt-to-equity ratio of 1.07. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of -22.23, a PEG ratio of 139.97 and a beta of 1.23. Southwest Airlines has a twelve month low of $22.47 and a twelve month high of $64.75. The company's 50-day moving average price is $60.75 and its two-hundred day moving average price is $49.45.
Southwest Airlines (NYSE:LUV) last released its earnings results on Wednesday, January 27th. The airline reported ($1.29) earnings per share for the quarter, beating the Zacks' consensus estimate of ($1.68) by $0.39. The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.11 billion. Southwest Airlines had a negative net margin of 12.94% and a negative return on equity of 22.65%. The company's quarterly revenue was down 64.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. As a group, sell-side analysts anticipate that Southwest Airlines will post -6.54 earnings per share for the current year.
In other news, President Thomas M. Nealon sold 3,800 shares of the stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $56.45, for a total value of $214,510.00. Following the transaction, the president now owns 156,154 shares of the company's stock, valued at approximately $8,814,893.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Montford sold 500 shares of the company'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 sale, the director now directly owns 22,332 shares of the company's stock, valued at approximately $1,381,234.20. The disclosure for this sale can be found here. Insiders sold a total of 56,418 shares of company stock worth $3,225,340 in the last three months. Insiders own 0.28% of the company's stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LUV. Bay Harbor Wealth Management LLC boosted its position in Southwest Airlines by 2,108.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the airline's stock valued at $26,000 after buying an additional 527 shares during the period. Bellwether Advisors LLC purchased a new stake in Southwest Airlines during the 4th quarter valued at $27,000. Phoenix Wealth Advisors purchased a new stake in Southwest Airlines during the 4th quarter valued at $28,000. SOA Wealth Advisors LLC. purchased a new stake in Southwest Airlines during the 4th quarter valued at $31,000. Finally, Jacobi Capital Management LLC boosted its position in Southwest Airlines by 368.0% during the 4th quarter. Jacobi Capital Management LLC now owns 702 shares of the airline's stock valued at $33,000 after buying an additional 552 shares during the period. 74.00% of the stock is owned by institutional investors and hedge funds.
About Southwest Airlines
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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