Southwest Airlines (NYSE:LUV) Stock Rating Upgraded by Argus

Southwest Airlines (NYSE:LUV - Get Free Report) was upgraded by stock analysts at Argus from a "hold" rating to a "buy" rating in a report issued on Tuesday, Marketbeat reports. The firm presently has a $35.00 price objective on the airline's stock. Argus' price objective suggests a potential upside of 17.67% from the stock's current price.

LUV has been the subject of a number of other research reports. TD Cowen increased their target price on Southwest Airlines from $25.00 to $28.00 and gave the company a "hold" rating in a report on Friday, December 6th. Raymond James increased their price objective on Southwest Airlines from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, December 30th. Susquehanna lowered their target price on shares of Southwest Airlines from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $28.00 target price on shares of Southwest Airlines in a report on Friday, November 15th. Finally, Citigroup reissued a "sell" rating and issued a $29.50 price target (down from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $31.78.

Southwest Airlines Price Performance

Shares of NYSE:LUV traded down $0.39 during midday trading on Tuesday, reaching $29.75. 7,407,374 shares of the company's stock traded hands, compared to its average volume of 8,336,662. The company has a fifty day simple moving average of $32.77 and a two-hundred day simple moving average of $30.59. Southwest Airlines has a 1 year low of $23.58 and a 1 year high of $36.12. The company has a market cap of $17.84 billion, a P/E ratio of 41.31, a PEG ratio of 0.97 and a beta of 1.14. 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 (NYSE:LUV - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. Equities analysts predict that Southwest Airlines will post 1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Linda B. Rutherford sold 3,849 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.40, for a total value of $132,405.60. Following the transaction, the insider now directly owns 89,376 shares in the company, valued at approximately $3,074,534.40. This represents a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Southwest Airlines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUV. Kestra Investment Management LLC acquired a new stake in shares of Southwest Airlines in the fourth quarter valued at $26,000. Raleigh Capital Management Inc. grew its position in Southwest Airlines by 186.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline's stock valued at $30,000 after acquiring an additional 575 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Southwest Airlines during the third quarter worth about $33,000. TD Private Client Wealth LLC lifted its position in shares of 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 in the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $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.