Southwest Airlines (NYSE:LUV) Given New $30.00 Price Target at JPMorgan Chase & Co.

Southwest Airlines (NYSE:LUV - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from $25.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the airline's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 13.90% from the company's current price.

A number of other equities research analysts also recently issued reports on LUV. Argus raised shares of Southwest Airlines from a "hold" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Tuesday, February 11th. TD Cowen boosted their target price on Southwest Airlines from $25.00 to $28.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Barclays raised their price target on Southwest Airlines from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. UBS Group boosted their price objective on Southwest Airlines from $27.00 to $29.00 and gave the company a "sell" rating in a report on Tuesday, January 7th. Finally, Morgan Stanley restated an "overweight" rating and set a $42.00 target price on shares of Southwest Airlines in a report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Southwest Airlines has an average rating of "Hold" and a consensus target price of $32.52.

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Southwest Airlines Trading Up 2.0 %

NYSE LUV traded up $0.69 on Tuesday, reaching $34.84. 21,659,775 shares of the company were exchanged, compared to its average volume of 9,082,207. The business's fifty day moving average price is $31.16 and its 200 day moving average price is $31.37. 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 capitalization of $20.65 billion, a P/E ratio of 48.39, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10. Southwest Airlines has a fifty-two week low of $23.58 and a fifty-two week high of $36.12.

Southwest Airlines (NYSE:LUV - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. Analysts forecast that Southwest Airlines will post 1.55 earnings per share for the current year.

Insider Buying and Selling

In other news, Director C. David Cush acquired 5,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $30.03 per share, with a total value of $150,150.00. Following the completion of the acquisition, the director now owns 19,011 shares in the company, valued at $570,900.33. This trade represents a 35.69 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth approximately $26,000. Raleigh Capital Management Inc. grew its position in 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 last quarter. Sanctuary Wealth Management L.L.C. increased its stake in 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 purchasing an additional 589 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Southwest Airlines by 41.1% in the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline's stock valued at $35,000 after buying an additional 345 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Southwest Airlines during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 80.82% of the company's stock.

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.