Citigroup Increases Southwest Airlines (NYSE:LUV) Price Target to $53.00

Southwest Airlines (NYSE:LUVGet Rating) had its price objective hoisted by research analysts at Citigroup from $48.00 to $53.00 in a research note issued to investors on Monday, The Fly reports. Citigroup’s price objective points to a potential upside of 10.26% from the company’s previous close.

A number of other analysts have also commented on the stock. Susquehanna Bancshares lowered shares of Southwest Airlines from a “positive” rating to a “neutral” rating and decreased their price target for the company from $52.00 to $50.00 in a research note on Thursday, January 13th. Argus decreased their price target on shares of Southwest Airlines from $58.00 to $50.00 in a research note on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $60.00 price target on shares of Southwest Airlines in a research note on Friday, April 29th. Evercore ISI upgraded shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Thursday, March 3rd. Finally, Morgan Stanley upped their target price on shares of Southwest Airlines from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, April 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Southwest Airlines has an average rating of “Hold” and an average target price of $53.88.

Shares of NYSE:LUV traded up $1.54 during mid-day trading on Monday, hitting $48.07. The company had a trading volume of 4,904,994 shares, compared to its average volume of 7,739,381. The firm has a fifty day moving average price of $44.02 and a 200 day moving average price of $44.90. The company has a market capitalization of $28.50 billion, a PE ratio of 50.37, a price-to-earnings-growth ratio of 6.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.87 and a quick ratio of 1.81. Southwest Airlines has a one year low of $36.75 and a one year high of $63.68.

Southwest Airlines (NYSE:LUVGet Rating) last released its quarterly earnings data on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.67 billion. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. The business’s revenue was up 128.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.72) EPS. Research analysts expect that Southwest Airlines will post 2.17 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. TCW Group Inc. lifted its holdings in Southwest Airlines by 33.8% during the fourth quarter. TCW Group Inc. now owns 224,894 shares of the airline’s stock valued at $9,635,000 after purchasing an additional 56,800 shares during the last quarter. Versor Investments LP purchased a new stake in Southwest Airlines during the fourth quarter valued at about $335,000. William Blair Investment Management LLC lifted its holdings in Southwest Airlines by 28.1% during the third quarter. William Blair Investment Management LLC now owns 94,374 shares of the airline’s stock valued at $4,854,000 after purchasing an additional 20,674 shares during the last quarter. Strs Ohio lifted its holdings in Southwest Airlines by 0.6% during the fourth quarter. Strs Ohio now owns 774,212 shares of the airline’s stock valued at $33,167,000 after purchasing an additional 4,913 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Southwest Airlines by 10.7% during the fourth quarter. Toronto Dominion Bank now owns 259,276 shares of the airline’s stock valued at $11,108,000 after purchasing an additional 24,966 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors.

Southwest Airlines Company Profile (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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