Cowen Reiterates “Buy” Rating for Southwest Airlines (LUV)
Several other analysts have also recently weighed in on the company. Vetr raised Southwest Airlines from a strong sell rating to a sell rating and set a $60.23 price objective for the company in a report on Tuesday, December 26th. Atlantic Securities raised Southwest Airlines from a neutral rating to an overweight rating and boosted their price objective for the stock from $48.71 to $71.00 in a report on Thursday, December 14th. JPMorgan Chase & Co. boosted their price objective on Southwest Airlines from $66.00 to $67.00 and gave the stock an overweight rating in a report on Wednesday, November 1st. Zacks Investment Research cut Southwest Airlines from a hold rating to a sell rating in a report on Monday, October 30th. Finally, Morgan Stanley reissued an overweight rating on shares of Southwest Airlines in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Southwest Airlines presently has a consensus rating of Buy and a consensus price target of $67.93.
Southwest Airlines (LUV) traded up $0.52 during trading on Tuesday, hitting $65.36. The company had a trading volume of 3,810,000 shares, compared to its average volume of 4,980,000. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. Southwest Airlines has a fifty-two week low of $48.71 and a fifty-two week high of $66.99. The company has a market capitalization of $38,780.00, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.76%. Southwest Airlines’s payout ratio is currently 14.33%.
In other news, Director John T. Montford sold 1,695 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total transaction of $107,242.65. Following the completion of the transaction, the director now directly owns 23,098 shares in the company, valued at approximately $1,461,410.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert E. Jordan sold 32,931 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $64.38, for a total value of $2,120,097.78. Following the transaction, the executive vice president now owns 76,993 shares of the company’s stock, valued at $4,956,809.34. The disclosure for this sale can be found here. Insiders have sold a total of 35,593 shares of company stock valued at $2,279,660 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Boston Partners grew its position in shares of Southwest Airlines by 101.7% in the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock valued at $278,822,000 after purchasing an additional 2,511,258 shares during the period. Janus Henderson Group PLC grew its position in shares of Southwest Airlines by 171.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,821,985 shares of the airline’s stock valued at $101,994,000 after purchasing an additional 1,151,371 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Southwest Airlines by 35.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock valued at $257,901,000 after purchasing an additional 1,090,189 shares during the period. Ameriprise Financial Inc. grew its position in shares of Southwest Airlines by 13.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after purchasing an additional 1,026,892 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Southwest Airlines by 104.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,754,760 shares of the airline’s stock valued at $98,219,000 after purchasing an additional 895,770 shares during the period. Institutional investors own 78.55% 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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