JPMorgan Chase & Co. cut shares of Southwest Airlines (NYSE:LUV) from a neutral rating to an underweight rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have $52.00 price target on the airline’s stock, down from their previous price target of $63.00.
LUV has been the subject of several other research reports. Imperial Capital reduced their target price on shares of Southwest Airlines from $66.00 to $56.00 and set an in-line rating for the company in a research note on Friday, October 26th. Morgan Stanley reiterated a buy rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. ValuEngine raised shares of Southwest Airlines from a sell rating to a hold rating in a report on Thursday, July 26th. Buckingham Research increased their price target on shares of Southwest Airlines from $69.00 to $73.00 and gave the stock a buy rating in a report on Friday, September 7th. Finally, Zacks Investment Research raised shares of Southwest Airlines from a sell rating to a hold rating in a report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $66.78.
Shares of Southwest Airlines stock traded up $0.46 during trading on Tuesday, reaching $51.41. 408,030 shares of the company traded hands, compared to its average volume of 6,379,403. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. Southwest Airlines has a 1-year low of $47.10 and a 1-year high of $66.99. The company has a market capitalization of $28.16 billion, a PE ratio of 14.64, a PEG ratio of 1.07 and a beta of 1.06.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the previous year, the company earned $0.88 EPS. Sell-side analysts expect that Southwest Airlines will post 4.12 EPS for the current fiscal year.
In other Southwest Airlines news, EVP Andrew M. Watterson sold 6,130 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $59.28, for a total transaction of $363,386.40. Following the transaction, the executive vice president now directly owns 16,597 shares in the company, valued at $983,870.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Montford sold 430 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total transaction of $25,056.10. Following the completion of the transaction, the director now owns 23,853 shares in the company, valued at approximately $1,389,914.31. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Commerce Bank grew its holdings in shares of Southwest Airlines by 10.1% in the third quarter. Commerce Bank now owns 21,119 shares of the airline’s stock worth $1,319,000 after purchasing an additional 1,945 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Southwest Airlines by 19.8% in the third quarter. Daiwa Securities Group Inc. now owns 24,964 shares of the airline’s stock worth $1,559,000 after purchasing an additional 4,118 shares during the last quarter. Tdam USA Inc. bought a new position in shares of Southwest Airlines in the third quarter worth approximately $228,000. Private Advisor Group LLC grew its holdings in shares of Southwest Airlines by 26.3% in the third quarter. Private Advisor Group LLC now owns 18,452 shares of the airline’s stock worth $1,152,000 after purchasing an additional 3,844 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Southwest Airlines by 5.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 20,018 shares of the airline’s stock worth $1,245,000 after purchasing an additional 1,069 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 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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