Investors Buy Large Volume of Put Options on Southwest Airlines (LUV)
Shares of Southwest Airlines (NYSE:LUV) were the recipient of unusually large options trading on Thursday. Stock investors bought 7,332 put options on the company, Analyst Ratings Network reports. This is an increase of 333% compared to the average volume of 1,694 put options.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs raised their price target on shares of Southwest Airlines from $24.20 to $26.00 in a research note on Monday. Separately, analysts at Barclays raised their price target on shares of Southwest Airlines from $26.00 to $28.00 in a research note on Friday, April 4th. They now have an “overweight” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Southwest Airlines in a research note on Monday, March 24th. They now have a $21.00 price target on the stock, down previously from $23.00. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and an average target price of $23.35.
Shares of Southwest Airlines (NYSE:LUV) traded down 4.22% during mid-day trading on Thursday, hitting $23.13. 9,455,789 shares of the company’s stock traded hands. Southwest Airlines has a one year low of $12.58 and a one year high of $24.45. The stock’s 50-day moving average is $23.20 and its 200-day moving average is $19.60. The company has a market cap of $16.237 billion and a price-to-earnings ratio of 22.91.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.04. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the company posted $0.09 earnings per share. Southwest Airlines’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Southwest Airlines will post $1.41 earnings per share for the current fiscal year.
Southwest Airlines Co operates Southwest Airlines and AirTran Airways, passenger airlines that provide scheduled air transportation in the United States and near-international markets.
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