Southwest Airlines’ (LUV) “Buy” Rating Reiterated at Cowen

Cowen restated their buy rating on shares of Southwest Airlines (NYSE:LUV) in a research note published on Tuesday. Cowen currently has a $67.00 price objective on the airline’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Southwest Airlines from a buy rating to a neutral rating and set a $73.00 price target on the stock. in a research note on Tuesday. Vetr downgraded 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 note on Wednesday, October 4th. ValuEngine downgraded shares of Southwest Airlines from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Barclays reiterated a hold rating and set a $61.00 price target on shares of Southwest Airlines in a research note on Thursday, September 14th. Finally, Zacks Investment Research downgraded shares of Southwest Airlines from a hold rating to a sell rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $67.93.

Southwest Airlines (LUV) traded up $0.52 on Tuesday, reaching $65.36. 3,810,000 shares of the company’s stock were exchanged, compared to its average volume of 4,980,000. Southwest Airlines has a 1 year low of $48.71 and a 1 year high of $66.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a market capitalization of $38,780.00, a P/E ratio of 18.73, a P/E/G ratio of 1.37 and a beta of 1.35.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company earned $0.93 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. analysts forecast that Southwest Airlines will post 3.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.76%. Southwest Airlines’s dividend payout ratio is presently 14.33%.

In related news, Director John T. Montford sold 1,695 shares of Southwest Airlines stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total value of $107,242.65. Following the completion of the transaction, the director now directly owns 23,098 shares of the company’s stock, valued at $1,461,410.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Montford sold 935 shares of Southwest Airlines stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $1,348,500. The disclosure for this sale can be found here. Insiders sold a total of 35,593 shares of company stock worth $2,279,660 in the last 90 days. 0.21% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BB&T Investment Services Inc. raised its holdings in shares of Southwest Airlines by 325.5% in the third 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 last quarter. Grove Bank & Trust raised its holdings in shares of Southwest Airlines by 365.0% in the third quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after buying an additional 1,880 shares during the last quarter. Harfst & Associates Inc. raised its holdings in shares of Southwest Airlines by 43.8% in 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 during the last quarter. Smith Moore & CO. bought a new position in shares of Southwest Airlines in the third quarter valued at about $206,000. Finally, Courier Capital LLC bought a new position in shares of Southwest Airlines in the third quarter valued at about $208,000. 78.55% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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