Southwest Airlines (NYSE:LUV) was downgraded by Vetr from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, December 5th. They currently have a $54.06 price objective on the airline’s stock. Vetr‘s target price points to a potential downside of 17.40% from the stock’s previous close.
A number of other research firms have also recently issued reports on LUV. Morgan Stanley set a $64.00 price objective on Southwest Airlines and gave the stock a “buy” rating in a report on Thursday, August 17th. Deutsche Bank restated a “buy” rating and set a $71.00 target price on shares of Southwest Airlines in a report on Friday, October 27th. Cowen reaffirmed an “outperform” rating and set a $64.00 price target (up previously from $62.00) on shares of Southwest Airlines in a research report on Friday, October 27th. Macquarie initiated coverage on Southwest Airlines in a research report on Monday, September 25th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, Barclays reiterated a “hold” rating and set a $61.00 target price on shares of Southwest Airlines in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.58.
Shares of Southwest Airlines (NYSE:LUV) traded down $0.42 on Tuesday, hitting $65.45. The stock had a trading volume of 1,976,024 shares, compared to its average volume of 4,162,061. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. Southwest Airlines has a 52 week low of $48.71 and a 52 week high of $66.99. The company has a market capitalization of $39,086.44, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34.
In other news, Director John T. Montford sold 1,695 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.27, for a total transaction of $107,242.65. Following the sale, the director now directly owns 23,098 shares of the company’s stock, valued at $1,461,410.46. The sale 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 on Thursday, December 14th. The shares were sold at an average price of $64.38, for a total transaction of $2,120,097.78. Following the sale, the executive vice president now directly owns 76,993 shares in the company, valued at $4,956,809.34. The disclosure for this sale can be found here. Insiders sold 35,593 shares of company stock valued at $2,279,660 in the last three months. 0.21% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. BDO Wealth Advisors LLC acquired a new position in shares of Southwest Airlines during the 2nd quarter worth about $102,000. BB&T Investment Services Inc. grew its stake in shares of Southwest Airlines by 325.5% in the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after buying an additional 1,211 shares during the period. Pittenger & Anderson Inc. grew its stake 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 buying an additional 250 shares during the period. Grove Bank & Trust boosted its position in shares of Southwest Airlines by 365.0% during the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock worth $134,000 after purchasing an additional 1,880 shares during the period. Finally, Harfst & Associates Inc. boosted its position in shares of Southwest Airlines by 43.8% during the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock worth $149,000 after purchasing an additional 732 shares during the period. 78.57% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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