Citigroup Has Lowered Expectations for Southwest Airlines (NYSE:LUV) Stock Price

Southwest Airlines (NYSE:LUV - Get Free Report) had its target price reduced by equities research analysts at Citigroup from $30.00 to $23.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "sell" rating on the airline's stock. Citigroup's target price points to a potential downside of 6.93% from the company's current price.

Several other analysts also recently weighed in on the stock. Melius Research raised shares of Southwest Airlines from a "sell" rating to a "hold" rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Thursday, March 20th. Susquehanna reduced their price target on Southwest Airlines from $34.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Melius upgraded Southwest Airlines from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on Southwest Airlines from $25.00 to $30.00 and gave the company an "underweight" rating in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group lowered shares of Southwest Airlines from a "hold" rating to an "underperform" rating and set a $28.00 price target for the company. in a report on Tuesday, April 1st. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.88.

Southwest Airlines Price Performance

Shares of NYSE LUV traded down $0.15 during mid-day trading on Monday, reaching $24.71. 11,518,405 shares of the company were exchanged, compared to its average volume of 9,915,393. The stock has a market capitalization of $14.18 billion, a PE ratio of 34.32, a PEG ratio of 0.97 and a beta of 0.94. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. Southwest Airlines has a 52 week low of $23.58 and a 52 week high of $36.12. The company's 50 day moving average price is $29.89 and its 200 day moving average price is $31.28.

Southwest Airlines (NYSE:LUV - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share 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%. Sell-side analysts forecast that Southwest Airlines will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Southwest Airlines

In other Southwest Airlines news, Director C. David Cush purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $30.03 per share, for a total transaction of $150,150.00. Following the completion of the purchase, the director now directly owns 19,011 shares of the company's stock, valued at $570,900.33. This trade represents a 35.69 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Southwest Airlines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its stake in shares of Southwest Airlines by 32.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 65,831 shares of the airline's stock worth $2,105,000 after buying an additional 16,293 shares during the last quarter. Vista Investment Partners LLC purchased a new position in shares of Southwest Airlines during the 4th quarter worth $614,000. Inspire Trust Co. N.A. grew its position in shares of Southwest Airlines by 23.6% during the 3rd quarter. Inspire Trust Co. N.A. now owns 99,407 shares of the airline's stock valued at $2,945,000 after acquiring an additional 19,000 shares during the period. Savant Capital LLC increased its stake in shares of Southwest Airlines by 13.3% in the 4th quarter. Savant Capital LLC now owns 16,503 shares of the airline's stock worth $555,000 after purchasing an additional 1,941 shares in the last quarter. Finally, New England Research & Management Inc. bought a new position in Southwest Airlines in the 4th quarter worth $608,000. 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.