Southwest Airlines (NYSE:LUV) PT Raised to $57.00

Southwest Airlines (NYSE:LUV – Get Rating) had its price target lifted by equities research analysts at Raymond James from $54.00 to $57.00 in a research report issued to clients and investors on Friday, The Fly reports. Raymond James’ price target would suggest a potential upside of 21.54% from the stock’s previous close.

A number of other research firms have also recently weighed in on LUV. Argus lowered their price target on Southwest Airlines from $58.00 to $50.00 in a report on Tuesday, March 22nd. Morgan Stanley upped their price target on Southwest Airlines from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, April 4th. JPMorgan Chase & Co. upped their price target on Southwest Airlines from $62.00 to $72.00 in a report on Friday. Susquehanna cut Southwest Airlines from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $50.00 in a report on Thursday, January 13th. Finally, Evercore ISI upgraded Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.00.

NYSE LUV opened at $46.90 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.91 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $43.93 and its two-hundred day moving average is $45.04. Southwest Airlines has a 12-month low of $36.75 and a 12-month high of $63.68. The stock has a market capitalization of $27.80 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 6.76 and a beta of 1.01.

Southwest Airlines (NYSE:LUV – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.67 billion. Southwest Airlines had a negative return on equity of 12.89% and a net margin of 6.19%. The business’s revenue was up 128.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.72) EPS. Equities analysts forecast that Southwest Airlines will post 1.19 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of LUV. Oldfield Partners LLP purchased a new position in shares of Southwest Airlines during the 1st quarter worth $107,911,000. Scout Investments Inc. purchased a new position in shares of Southwest Airlines in the 1st quarter worth $92,502,000. MFA Wealth Advisors LLC purchased a new position in shares of Southwest Airlines in the 3rd quarter worth $1,328,000. Norges Bank purchased a new position in shares of Southwest Airlines in the 4th quarter worth $48,312,000. Finally, Crake Asset Management LLP raised its position in shares of Southwest Airlines by 284.6% in the 3rd quarter. Crake Asset Management LLP now owns 1,084,046 shares of the airline’s stock worth $55,752,000 after buying an additional 802,200 shares during the period. 78.05% of the stock is currently owned by institutional investors.

About Southwest Airlines (Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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