Southwest Airlines (NYSE:LUV) Downgraded by Wolfe Research

Wolfe Research downgraded shares of Southwest Airlines (NYSE:LUV) from an outperform rating to a peer perform rating in a report published on Wednesday, Analyst Price Targets reports.

Other research analysts also recently issued reports about the company. Susquehanna Bancshares cut their price objective on Southwest Airlines from $56.00 to $52.00 and set a positive rating on the stock in a research note on Thursday, December 9th. Bank of America cut their price objective on Southwest Airlines from $65.00 to $61.00 and set a buy rating on the stock in a research note on Friday, October 22nd. JPMorgan Chase & Co. raised Southwest Airlines from a neutral rating to an overweight rating and lifted their price target for the stock from $64.00 to $70.00 in a research report on Friday, October 1st. Raymond James dropped their price target on Southwest Airlines from $62.00 to $60.00 and set an outperform rating on the stock in a research report on Monday, November 29th. Finally, The Goldman Sachs Group lowered Southwest Airlines from a neutral rating to a sell rating and decreased their price objective for the stock from $59.00 to $36.00 in a report on Friday, December 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $55.72.

Shares of Southwest Airlines stock opened at $45.82 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.98 and a debt-to-equity ratio of 1.07. Southwest Airlines has a 52-week low of $38.66 and a 52-week high of $64.75. The stock has a 50-day simple moving average of $44.60 and a 200-day simple moving average of $48.50.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Wednesday, October 20th. The airline reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The business had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.58 billion. Southwest Airlines had a negative return on equity of 22.34% and a net margin of 0.02%. The firm’s revenue was up 161.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.99) EPS. Equities research analysts expect that Southwest Airlines will post -2.18 EPS for the current fiscal year.

In related news, Director Thomas W. Gilligan sold 11,188 shares of the company’s stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $47.34, for a total value of $529,639.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Southwest Airlines during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV boosted its position in Southwest Airlines by 138.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 491 shares of the airline’s stock valued at $26,000 after purchasing an additional 285 shares during the last quarter. Herold Advisors Inc. acquired a new position in Southwest Airlines during the third quarter valued at approximately $30,000. Salem Investment Counselors Inc. boosted its position in Southwest Airlines by 85.8% during the second quarter. Salem Investment Counselors Inc. now owns 758 shares of the airline’s stock valued at $40,000 after purchasing an additional 350 shares during the last quarter. Finally, Arlington Partners LLC bought a new stake in Southwest Airlines in the third quarter valued at approximately $42,000. 77.06% of the stock is owned by institutional investors.

Southwest Airlines Company Profile

Southwest Airlines Co engages in the management of a passenger airline. It offers ancillary services such as earlybird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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