Jefferies Financial Group Forecasts Strong Price Appreciation for Southwest Airlines (NYSE:LUV) Stock

Southwest Airlines (NYSE:LUV) had its price objective lifted by equities researchers at Jefferies Financial Group from $42.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the airline’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 6.90% from the stock’s previous close.

A number of other brokerages have also recently weighed in on LUV. Barclays upgraded shares of Southwest Airlines from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $34.00 to $56.00 in a research note on Tuesday, December 16th. Raymond James Financial upped their target price on Southwest Airlines from $42.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. TD Cowen lifted their price target on shares of Southwest Airlines from $31.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, December 12th. Susquehanna lifted their price objective on shares of Southwest Airlines from $35.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Finally, Wells Fargo & Company assumed coverage on shares of Southwest Airlines in a research note on Thursday, December 18th. They set an “equal weight” rating and a $45.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.37.

Southwest Airlines Stock Up 0.3%

NYSE LUV traded up $0.14 during trading hours on Monday, hitting $42.09. 3,237,718 shares of the company were exchanged, compared to its average volume of 8,378,382. The company has a 50 day moving average of $39.50 and a two-hundred day moving average of $34.94. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of 64.55, a PEG ratio of 0.38 and a beta of 1.16. Southwest Airlines has a 52-week low of $23.82 and a 52-week high of $45.02. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

Institutional Investors Weigh In On Southwest Airlines

A number of institutional investors have recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC acquired a new position in Southwest Airlines during the second quarter worth $25,000. Corsicana & Co. bought a new stake in shares of Southwest Airlines during the 3rd quarter valued at $27,000. Quent Capital LLC bought a new position in Southwest Airlines in the 3rd quarter valued at about $27,000. Optima Capital LLC bought a new stake in shares of Southwest Airlines during the 4th quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Southwest Airlines during the 4th quarter worth $29,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Southwest Airlines Company Profile

Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.

Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.