The Traders Buy Southwest Airlines Company (LUV) on Weakness

The Traders Buy Southwest Airlines Company (LUV) on Weakness

Investors bought shares of Southwest Airlines Company (NYSE:LUV) on weakness during trading on Wednesday. $126.07 million flowed into the stock on the tick-up and $92.92 million flowed out of the stock on the tick-down, for a money net flow of $33.15 million into the stock. Of all companies tracked, Southwest Airlines had the 29th highest net in-flow for the day. Southwest Airlines traded down ($1.64) for the day and closed at $57.16

Several research firms recently commented on LUV. Vetr lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 target price on the stock. in a report on Wednesday, October 4th. Macquarie began coverage on shares of Southwest Airlines in a report on Monday, September 25th. They set an “outperform” rating and a $62.00 target price on the stock. Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Raymond James Financial, Inc. raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Wednesday, September 20th. Finally, J P Morgan Chase & Co raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and increased their target price for the company from $60.00 to $66.00 in a report on Friday, September 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $66.95.

The stock has a 50 day moving average price of $56.37 and a 200 day moving average price of $57.44. The stock has a market cap of $34.21 billion, a price-to-earnings ratio of 17.53 and a beta of 1.32.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts expect that Southwest Airlines Company will post $3.62 earnings per share for the current year.

In other Southwest Airlines news, Director William H. Dr Cunningham bought 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LUV. Teachers Advisors LLC lifted its position in shares of Southwest Airlines by 3.6% during the first quarter. Teachers Advisors LLC now owns 1,078,062 shares of the airline’s stock valued at $57,957,000 after buying an additional 37,191 shares during the last quarter. Boyer & Corporon Wealth Management LLC lifted its position in shares of Southwest Airlines by 271.2% during the first quarter. Boyer & Corporon Wealth Management LLC now owns 78,830 shares of the airline’s stock valued at $4,238,000 after buying an additional 57,593 shares during the last quarter. Cleararc Capital Inc. lifted its position in shares of Southwest Airlines by 0.6% during the first quarter. Cleararc Capital Inc. now owns 15,035 shares of the airline’s stock valued at $808,000 after buying an additional 87 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Southwest Airlines by 2.9% during the first quarter. Thrivent Financial For Lutherans now owns 3,060,099 shares of the airline’s stock valued at $164,508,000 after buying an additional 86,690 shares during the last quarter. Finally, Royal Bank of Scotland Group PLC lifted its position in shares of Southwest Airlines by 4.3% during the first quarter. Royal Bank of Scotland Group PLC now owns 267,286 shares of the airline’s stock valued at $14,369,000 after buying an additional 11,034 shares during the last quarter. 79.37% of the stock is owned by institutional investors and hedge funds.

Southwest Airlines Company Profile

Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.

Related posts

Leave a Comment