Southwest Airlines (NYSE:LUV) Price Target Cut to $32.00 by Analysts at Barclays

Southwest Airlines (NYSE:LUV) had its target price reduced by equities research analysts at Barclays from $35.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the airline’s stock. Barclays‘s price target points to a potential upside of 28.28% from the company’s previous close.

Several other equities analysts have also commented on the stock. Bank of America reiterated an “underperform” rating and set a $31.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a research report on Friday, January 17th. UBS Group lowered their price objective on shares of Southwest Airlines from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday. JPMorgan Chase & Co. raised their price target on Southwest Airlines from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, March 18th. Jefferies Financial Group lowered Southwest Airlines from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Tuesday, April 1st. Finally, Raymond James boosted their price objective on shares of Southwest Airlines from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Southwest Airlines has a consensus rating of “Hold” and an average price target of $31.27.

Southwest Airlines Price Performance

Shares of LUV traded down $1.02 during midday trading on Tuesday, hitting $24.95. 9,869,621 shares of the company traded hands, compared to its average volume of 11,350,352. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 0.97 and a beta of 0.94. The firm has a 50 day moving average of $31.00 and a 200-day moving average of $31.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92. Southwest Airlines has a 52 week low of $23.58 and a 52 week high of $36.12.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, beating 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%. On average, analysts forecast that Southwest Airlines will post 1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director C. David Cush purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $30.03 per share, with a total value of $150,150.00. Following the purchase, the director now owns 19,011 shares of the company’s stock, valued at $570,900.33. This represents a 35.69 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Southwest Airlines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in shares of Southwest Airlines during the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. boosted its position in shares of Southwest Airlines by 186.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock worth $30,000 after purchasing an additional 575 shares during the period. Sanctuary Wealth Management L.L.C. grew its stake in shares of Southwest Airlines by 196.3% in the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline’s stock valued at $30,000 after buying an additional 589 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock worth $35,000 after purchasing an additional 345 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in Southwest Airlines during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Company Profile

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.