Wells Fargo & Company Begins Coverage on Southwest Airlines (NYSE:LUV)

Equities research analysts at Wells Fargo & Company began coverage on shares of Southwest Airlines (NYSE:LUV) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “equal weight” rating and a $45.00 price target on the airline’s stock. Wells Fargo & Company‘s price target points to a potential upside of 8.25% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of Southwest Airlines from $33.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, December 2nd. Susquehanna increased their price objective on Southwest Airlines from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Citigroup started coverage on Southwest Airlines in a research note on Thursday, December 4th. They issued a “neutral” rating and a $38.00 price target for the company. Sanford C. Bernstein raised their price objective on Southwest Airlines from $31.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, November 20th. Finally, TD Cowen raised their price target on Southwest Airlines from $31.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Southwest Airlines has an average rating of “Hold” and a consensus target price of $38.94.

Southwest Airlines Stock Up 1.4%

LUV traded up $0.59 during trading hours on Thursday, hitting $41.57. 503,735 shares of the company’s stock were exchanged, compared to its average volume of 10,912,763. The stock has a market cap of $21.50 billion, a price-to-earnings ratio of 63.98, a PEG ratio of 0.85 and a beta of 1.17. Southwest Airlines has a 1-year low of $23.82 and a 1-year high of $43.54. The stock’s 50-day moving average is $34.09 and its two-hundred day moving average is $33.13. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Tuesday, February 6th. The airline reported ($0.38) earnings per share (EPS) for the quarter. The business had revenue of $6.17 billion during the quarter. Southwest Airlines had a net margin of 1.38% and a return on equity of 6.39%. Sell-side analysts predict that Southwest Airlines will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Southwest Airlines

Institutional investors and hedge funds have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Southwest Airlines during the second quarter valued at about $25,000. Quent Capital LLC acquired a new position in shares of Southwest Airlines during the third quarter worth $27,000. Corsicana & Co. bought a new stake in shares of Southwest Airlines in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Southwest Airlines in the second quarter valued at $31,000. Finally, Hantz Financial Services Inc. raised its position in Southwest Airlines by 81.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock worth $34,000 after purchasing an additional 474 shares during the last quarter. Institutional investors and hedge funds 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.