Southwest Airlines (NYSE:LUV) PT Raised to $32.00 at Barclays

Southwest Airlines (NYSE:LUVGet Free Report) had its price objective boosted by Barclays from $27.00 to $32.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the airline’s stock. Barclays‘s price target indicates a potential upside of 3.93% from the stock’s current price.

A number of other research firms have also commented on LUV. Susquehanna lifted their price objective on Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI raised shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $35.00 in a research report on Tuesday, September 3rd. BNP Paribas raised shares of Southwest Airlines to a “strong sell” rating in a research report on Thursday, September 19th. Jefferies Financial Group raised shares of Southwest Airlines from an “underperform” rating to a “hold” rating and raised their price target for the company from $24.00 to $32.00 in a research report on Wednesday, October 9th. Finally, Sanford C. Bernstein decreased their price objective on shares of Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.33.

Check Out Our Latest Analysis on Southwest Airlines

Southwest Airlines Stock Performance

Shares of LUV traded up $0.42 during trading hours on Tuesday, hitting $30.79. The company had a trading volume of 2,600,577 shares, compared to its average volume of 9,430,147. The firm has a market cap of $18.43 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 12.06 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.48. Southwest Airlines has a 12 month low of $21.91 and a 12 month high of $35.18. The business has a fifty day moving average of $28.50 and a 200-day moving average of $28.00.

Southwest Airlines (NYSE:LUVGet Free Report) last issued its quarterly earnings results on Thursday, July 25th. The airline reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.32 billion. Southwest Airlines had a net margin of 0.41% and a return on equity of 5.92%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. Equities analysts anticipate that Southwest Airlines will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Southwest Airlines

In other news, Director Rakesh Gangwal acquired 643,788 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were purchased at an average price of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the transaction, the director now owns 3,606,311 shares of the company’s stock, valued at $108,117,203.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Southwest Airlines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Paladin Wealth LLC purchased a new position in shares of Southwest Airlines during the third quarter valued at about $457,000. CVA Family Office LLC increased its position in shares of Southwest Airlines by 60.6% during the third quarter. CVA Family Office LLC now owns 1,661 shares of the airline’s stock valued at $49,000 after buying an additional 627 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Southwest Airlines during the third quarter valued at about $313,000. City State Bank increased its position in shares of Southwest Airlines by 55.8% during the third quarter. City State Bank now owns 1,955 shares of the airline’s stock valued at $58,000 after buying an additional 700 shares during the period. Finally, Leibman Financial Services Inc. boosted its stake in Southwest Airlines by 2.3% during the third quarter. Leibman Financial Services Inc. now owns 157,445 shares of the airline’s stock worth $4,665,000 after acquiring an additional 3,594 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Company Profile

(Get Free Report)

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; 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.

Featured Stories

Analyst Recommendations for Southwest Airlines (NYSE:LUV)

Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.