Investors Buy Shares of Southwest Airlines Company (LUV) on Weakness

Investors bought shares of Southwest Airlines Company (NYSE:LUV) on weakness during trading hours on Wednesday. $126.07 million flowed into the stock on the tick-up and $92.92 million flowed out of the stock on the tick-down, for a money net flow of $33.15 million into the stock. Of all companies tracked, Southwest Airlines had the 29th highest net in-flow for the day. Southwest Airlines traded down ($1.64) for the day and closed at $57.16

A number of research firms recently weighed in on LUV. Cowen and Company restated an “outperform” rating and set a $64.00 price target (up from $62.00) on shares of Southwest Airlines in a research report on Friday. Vetr lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price target on the stock. in a research report on Wednesday, October 4th. Macquarie began coverage on shares of Southwest Airlines in a research report on Monday, September 25th. They set an “outperform” rating and a $62.00 price target on the stock. Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Raymond James Financial, Inc. upgraded shares of Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and an average target price of $66.77.

The company has a market cap of $33.01 billion, a price-to-earnings ratio of 16.910 and a beta of 1.32. The stock’s 50 day moving average price is $56.37 and its 200-day moving average price is $57.44.

Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Southwest Airlines Company will post $3.62 earnings per share for the current fiscal year.

In related 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 shares were acquired at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the transaction, the director now owns 66,969 shares of the company’s stock, valued at $3,616,326. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in LUV. BDO Wealth Advisors LLC acquired a new position in Southwest Airlines during the second quarter valued at approximately $102,000. Guardian Life Insurance Co. of America lifted its position in Southwest Airlines by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after buying an additional 15 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Southwest Airlines by 13.5% during the second quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after buying an additional 250 shares in the last quarter. National Pension Service acquired a new position in Southwest Airlines during the second quarter valued at approximately $141,000. Finally, Harfst & Associates Inc. lifted its position in Southwest Airlines by 43.8% during the second quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after buying an additional 732 shares in the last quarter. 79.37% of the stock is currently owned by hedge funds and other institutional investors.

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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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