Southwest Airlines (NYSE:LUV) Stock Rating Upgraded by Argus

Southwest Airlines (NYSE:LUV) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $35.00 price target on the airline’s stock. Argus’ target price points to a potential upside of 17.14% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley reiterated an “overweight” rating and set a $42.00 price objective on shares of Southwest Airlines in a research report on Wednesday, December 11th. TD Cowen increased their price objective on Southwest Airlines from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. UBS Group increased their price objective on Southwest Airlines from $27.00 to $29.00 and gave the stock a “sell” rating in a research report on Tuesday, January 7th. Raymond James increased their price objective on Southwest Airlines from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. Finally, Citigroup reiterated a “sell” rating and set a $29.50 price objective (down previously from $31.50) on shares of Southwest Airlines in a research report on Thursday, January 16th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Southwest Airlines currently has a consensus rating of “Hold” and a consensus price target of $31.78.

Southwest Airlines Stock Up 0.4 %

LUV opened at $29.88 on Tuesday. Southwest Airlines has a 1-year low of $23.58 and a 1-year high of $36.12. The stock’s fifty day simple moving average is $32.70 and its 200 day simple moving average is $30.61. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $17.92 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.14.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. As a group, research analysts expect that Southwest Airlines will post 1.59 earnings per share for the current year.

Insider Activity at Southwest Airlines

In other Southwest Airlines news, insider Linda B. Rutherford sold 3,849 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $34.40, for a total value of $132,405.60. Following the completion of the transaction, the insider now directly owns 89,376 shares in the company, valued at approximately $3,074,534.40. This trade represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Southwest Airlines

Several large investors have recently bought and sold shares of the company. Landscape Capital Management L.L.C. bought a new position in Southwest Airlines in the fourth quarter valued at about $268,000. Annis Gardner Whiting Capital Advisors LLC raised its position in Southwest Airlines by 8.3% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 14,927 shares of the airline’s stock valued at $505,000 after purchasing an additional 1,150 shares during the last quarter. Arete Wealth Advisors LLC raised its position in Southwest Airlines by 21.6% in the fourth quarter. Arete Wealth Advisors LLC now owns 33,867 shares of the airline’s stock valued at $1,139,000 after purchasing an additional 6,006 shares during the last quarter. World Investment Advisors raised its position in Southwest Airlines by 21.3% in the fourth quarter. World Investment Advisors now owns 20,497 shares of the airline’s stock valued at $691,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Martin Worley Group bought a new position in Southwest Airlines in the fourth quarter valued at about $296,000. 80.82% of the stock is currently owned by institutional investors.

About Southwest Airlines

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.