Southwest Airlines (NYSE:LUV) Price Target Raised to $26.00 at TD Cowen

Southwest Airlines (NYSE:LUVGet Free Report) had its price objective hoisted by equities research analysts at TD Cowen from $20.00 to $26.00 in a report issued on Friday, Briefing.com reports. The brokerage presently has a “market perform” rating on the airline’s stock. TD Cowen’s target price would indicate a potential downside of 13.59% from the stock’s current price.

A number of other equities analysts have also recently issued reports on LUV. Morgan Stanley lowered their target price on Southwest Airlines from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. BNP Paribas downgraded shares of Southwest Airlines from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research note on Friday, November 10th. JPMorgan Chase & Co. upped their price objective on shares of Southwest Airlines from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday. Sanford C. Bernstein lowered shares of Southwest Airlines from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $29.00 to $24.00 in a research report on Monday, January 8th. Finally, Melius lowered Southwest Airlines from a “neutral” rating to an “underweight” rating in a research note on Monday, November 13th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Southwest Airlines has an average rating of “Hold” and a consensus price target of $31.82.

Read Our Latest Research Report on Southwest Airlines

Southwest Airlines Stock Down 1.0 %

Southwest Airlines stock traded down $0.30 during midday trading on Friday, hitting $30.09. The stock had a trading volume of 9,819,188 shares, compared to its average volume of 9,415,693. The business has a fifty day moving average price of $28.26 and a 200 day moving average price of $29.08. The stock has a market cap of $17.94 billion, a P/E ratio of 40.08, a P/E/G ratio of 1.03 and a beta of 1.19. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.72. Southwest Airlines has a 12 month low of $21.91 and a 12 month high of $39.53.

Southwest Airlines (NYSE:LUVGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The airline reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.25. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.75 billion. Southwest Airlines had a return on equity of 5.08% and a net margin of 1.95%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) EPS. Research analysts predict that Southwest Airlines will post 1.36 EPS for the current year.

Institutional Trading of Southwest Airlines

Hedge funds have recently bought and sold shares of the stock. Comerica Bank bought a new stake in shares of Southwest Airlines in the 2nd quarter valued at about $34,644,000. Geode Capital Management LLC increased its position in Southwest Airlines by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 12,482,011 shares of the airline’s stock valued at $451,167,000 after buying an additional 244,723 shares in the last quarter. Global Retirement Partners LLC increased its position in Southwest Airlines by 15.1% during the 2nd quarter. Global Retirement Partners LLC now owns 11,713 shares of the airline’s stock valued at $424,000 after buying an additional 1,538 shares in the last quarter. National Bank of Canada FI increased its position in Southwest Airlines by 115.6% during the 2nd quarter. National Bank of Canada FI now owns 131,418 shares of the airline’s stock valued at $4,839,000 after buying an additional 70,452 shares in the last quarter. Finally, Tobam increased its position in Southwest Airlines by 163.8% during the 2nd quarter. Tobam now owns 4,912 shares of the airline’s stock valued at $178,000 after buying an additional 3,050 shares in the last quarter. Institutional investors own 78.22% of the company’s stock.

Southwest Airlines Company Profile

(Get Free Report)

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, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; and served 121 destinations in 42 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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Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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