Southwest Airlines Company (LUV) Receives Hold Rating from Barclays PLC
Southwest Airlines Company (NYSE:LUV)‘s stock had its “hold” rating reissued by investment analysts at Barclays PLC in a research report issued on Thursday. They presently have a $61.00 price objective on the airline’s stock. Barclays PLC’s price target points to a potential upside of 11.60% from the stock’s current price.
Several other research analysts have also recently commented on LUV. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley reissued an “overweight” rating on shares of Southwest Airlines in a research note on Tuesday. Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. Citigroup Inc. reissued a “buy” rating and set a $64.00 target price (down from $65.00) on shares of Southwest Airlines in a research note on Thursday, September 7th. Finally, BidaskClub cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Southwest Airlines currently has an average rating of “Buy” and a consensus target price of $67.04.
Shares of Southwest Airlines (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 company’s 50-day moving average price is $54.06 and its 200-day moving average price is $56.97. Southwest Airlines has a 12 month low of $36.31 and a 12 month high of $64.39.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $1.19 EPS. Southwest Airlines’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that Southwest Airlines will post $3.73 EPS for the current fiscal year.
Southwest Airlines announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the airline to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, Director William H. Dr Cunningham bought 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BDO Wealth Advisors LLC acquired a new stake in shares of Southwest Airlines in the 2nd quarter valued at about $102,000. Pittenger & Anderson Inc. boosted its position in shares of Southwest Airlines by 13.5% in the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after purchasing an additional 250 shares during the period. National Pension Service acquired a new stake in shares of Southwest Airlines in the 2nd quarter valued at about $141,000. Guardian Life Insurance Co. of America boosted its position in shares of Southwest Airlines by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after purchasing an additional 15 shares during the period. Finally, Harfst & Associates Inc. boosted its position in shares of Southwest Airlines by 43.8% in the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after purchasing an additional 732 shares during the period. 79.42% of the stock is owned by hedge funds and other institutional investors.
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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