Southwest Airlines (NYSE:LUV) Rating Increased to Hold at Melius

Melius upgraded shares of Southwest Airlines (NYSE:LUV - Free Report) from a sell rating to a hold rating in a report issued on Thursday morning, Marketbeat Ratings reports.

Several other equities research analysts have also commented on LUV. Barclays upped their price target on shares of Southwest Airlines from $32.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Bank of America reaffirmed an "underperform" rating and set a $31.00 target price (down from $33.00) on shares of Southwest Airlines in a report on Friday, January 17th. Citigroup reiterated a "sell" rating and set a $29.50 price target (down previously from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Susquehanna reduced their price objective on Southwest Airlines from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. raised their price objective on Southwest Airlines from $25.00 to $30.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 18th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.52.

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Southwest Airlines Stock Performance

NYSE:LUV traded up $0.08 during trading hours on Thursday, reaching $34.91. The company had a trading volume of 16,493,463 shares, compared to its average volume of 9,130,037. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of 48.48, a PEG ratio of 0.97 and a beta of 1.10. 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 firm's 50 day moving average price is $31.20 and its 200-day moving average price is $31.43. Southwest Airlines has a 52 week low of $23.58 and a 52 week high of $36.12.

Southwest Airlines (NYSE:LUV - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 EPS 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%. On average, analysts forecast that Southwest Airlines will post 1.55 EPS for the current year.

Southwest Airlines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines's payout ratio is 100.00%.

Insiders Place Their Bets

In other Southwest Airlines news, Director C. David Cush bought 5,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $30.03 per share, for a total transaction of $150,150.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Southwest Airlines

Several large investors have recently added to or reduced their stakes in LUV. CWC Advisors LLC. boosted its holdings in shares of Southwest Airlines by 2.4% in the 4th quarter. CWC Advisors LLC. now owns 13,310 shares of the airline's stock worth $447,000 after purchasing an additional 311 shares during the period. Mattson Financial Services LLC lifted its position in Southwest Airlines by 22.3% in the fourth quarter. Mattson Financial Services LLC now owns 55,458 shares of the airline's stock worth $1,864,000 after buying an additional 10,123 shares during the last quarter. Alpha Wealth Funds LLC bought a new stake in Southwest Airlines in the fourth quarter worth $638,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Southwest Airlines during the fourth quarter worth $206,000. Finally, Ameriflex Group Inc. bought a new position in Southwest Airlines during the fourth quarter valued at $131,000. 80.82% of the stock is 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.