Morgan Stanley Raises Southwest Airlines (NYSE:LUV) Price Target to $63.00

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Southwest Airlines (NYSE:LUV) had its price objective boosted by Morgan Stanley from $60.00 to $63.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the airline’s stock.

Several other equities analysts have also recently weighed in on LUV. Macquarie raised Southwest Airlines from a neutral rating to an outperform rating and set a $67.00 price target on the stock in a report on Friday, September 13th. Tigress Financial reissued a buy rating on shares of Southwest Airlines in a report on Thursday, September 26th. Bank of America raised Southwest Airlines to a buy rating and set a $65.00 price target on the stock in a report on Monday, September 23rd. Berenberg Bank started coverage on Southwest Airlines in a report on Friday, September 6th. They set a hold rating and a $57.00 price target on the stock. Finally, Cowen reissued a market perform rating and set a $57.00 price target (up from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $57.95.

LUV stock traded up $0.25 during midday trading on Thursday, hitting $53.92. The company’s stock had a trading volume of 3,003,544 shares, compared to its average volume of 3,887,071. The company has a market cap of $28.85 billion, a PE ratio of 12.72, a P/E/G ratio of 1.41 and a beta of 1.48. Southwest Airlines has a 12 month low of $44.28 and a 12 month high of $60.86. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average is $53.28 and its 200-day moving average is $52.05.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. Analysts expect that Southwest Airlines will post 4.27 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in LUV. Global Wealth Management Investment Advisory Inc. raised its holdings in Southwest Airlines by 242.8% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock worth $36,000 after purchasing an additional 505 shares during the period. American National Bank purchased a new stake in Southwest Airlines in the 3rd quarter worth $54,000. Doyle Wealth Management purchased a new stake in Southwest Airlines in the 2nd quarter worth $58,000. Westside Investment Management Inc. purchased a new stake in Southwest Airlines in the 2nd quarter worth $60,000. Finally, Clear Perspective Advisors LLC purchased a new stake in Southwest Airlines in the 2nd quarter worth $60,000. 82.01% of the stock is currently owned by institutional investors.

Southwest Airlines Company Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

Read More: How To Calculate Debt-to-Equity Ratio

Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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