Southwest Airlines Company (LUV) Rating Reiterated by Barclays PLC
Southwest Airlines Company (NYSE:LUV)‘s stock had its “hold” rating reissued by Barclays PLC in a research report issued on Thursday. They currently have a $61.00 target price on the airline’s stock. Barclays PLC’s target price would indicate a potential upside of 11.60% from the stock’s current price.
Several other analysts have also recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of Southwest Airlines in a research note on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and set a $64.00 price objective (down previously from $65.00) on shares of Southwest Airlines in a research report on Thursday, September 7th. Cowen and Company reaffirmed a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a research report on Friday, September 1st. Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. Finally, Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.04.
Shares of Southwest Airlines (NYSE LUV) opened at 54.66 on Thursday. The company has a market cap of $32.72 billion, a P/E ratio of 16.76 and a beta of 1.29. The stock’s 50 day moving average is $54.06 and its 200 day moving average is $56.97. Southwest Airlines has a 1-year low of $36.31 and a 1-year high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts predict that Southwest Airlines will post $3.73 earnings per share for the current year.
Southwest Airlines announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the airline to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Director William H. Dr Cunningham acquired 4,500 shares of Southwest Airlines stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the acquisition, the director now owns 66,969 shares of the company’s stock, valued at $3,616,326. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. BDO Wealth Advisors LLC purchased a new position in Southwest Airlines during the 2nd quarter worth $102,000. Pittenger & Anderson Inc. grew its position in Southwest Airlines by 13.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock worth $130,000 after purchasing an additional 250 shares during the last quarter. National Pension Service purchased a new position in Southwest Airlines during the 2nd quarter worth $141,000. Guardian Life Insurance Co. of America grew its position in Southwest Airlines by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after purchasing an additional 15 shares during the last quarter. Finally, Harfst & Associates Inc. grew its position in Southwest Airlines by 43.8% during the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock worth $149,000 after purchasing an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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