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

Southwest Airlines (NYSE:LUV) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $25.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the airline’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 6.65% from the stock’s previous close.

Several other analysts have also issued reports on LUV. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, February 11th. UBS Group lifted their price objective on Southwest Airlines from $27.00 to $29.00 and gave the stock a “sell” rating in a report on Tuesday, January 7th. Raymond James increased their target price on Southwest Airlines from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Barclays lifted their price target on Southwest Airlines from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, TD Cowen increased their price objective on Southwest Airlines from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.02.

Southwest Airlines Price Performance

Shares of Southwest Airlines stock opened at $32.14 on Tuesday. The firm has a market cap of $19.05 billion, a PE ratio of 44.64, a P/E/G ratio of 0.97 and a beta of 1.10. The business has a 50-day moving average price of $31.09 and a 200 day moving average price of $31.27. 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 twelve month low of $23.58 and a twelve month high of $36.12.

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

Insiders Place Their Bets

In other Southwest Airlines news, Director C. David Cush acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $30.03 per share, with a total value 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 trade represents a 35.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Southwest Airlines

Institutional investors have recently made changes to their positions in the stock. Studio Investment Management LLC boosted its stake in Southwest Airlines by 5.2% in the third quarter. Studio Investment Management LLC now owns 6,978 shares of the airline’s stock valued at $207,000 after acquiring an additional 343 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Southwest Airlines by 41.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after purchasing an additional 345 shares during the last quarter. Avior Wealth Management LLC grew its stake in Southwest Airlines by 3.8% during the 4th quarter. Avior Wealth Management LLC now owns 10,116 shares of the airline’s stock worth $340,000 after buying an additional 369 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Southwest Airlines by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 9,822 shares of the airline’s stock worth $330,000 after buying an additional 369 shares during the last quarter. Finally, Wahed Invest LLC lifted its stake in Southwest Airlines by 11.5% in the third quarter. Wahed Invest LLC now owns 3,638 shares of the airline’s stock valued at $108,000 after buying an additional 375 shares during the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.

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.