Southwest Airlines (NYSE:LUV) Stock Rating Upgraded by JPMorgan Chase & Co.

Southwest Airlines (NYSE:LUV) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to an “overweight” rating in a report released on Friday,Benzinga reports. The firm currently has a $60.00 target price on the airline’s stock, up from their previous target price of $36.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 39.93% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. BNP Paribas Exane boosted their price objective on shares of Southwest Airlines from $19.00 to $24.00 and gave the stock an “underperform” rating in a research report on Monday, December 8th. Morgan Stanley lifted their price target on shares of Southwest Airlines from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Raymond James Financial upped their price objective on shares of Southwest Airlines from $42.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. TD Cowen lifted their target price on Southwest Airlines from $31.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Finally, Bank of America boosted their target price on Southwest Airlines from $28.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Southwest Airlines currently has a consensus rating of “Hold” and an average target price of $41.56.

Southwest Airlines Stock Performance

NYSE:LUV opened at $42.88 on Friday. The firm has a market capitalization of $22.18 billion, a PE ratio of 65.97, a price-to-earnings-growth ratio of 0.26 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.42. The business’s fifty day moving average price is $37.04 and its 200 day moving average price is $34.15. Southwest Airlines has a 12 month low of $23.82 and a 12 month high of $43.54.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Tuesday, February 6th. The airline reported ($0.38) 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%. On average, sell-side analysts anticipate that Southwest Airlines will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Southwest Airlines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC purchased a new position in shares of Southwest Airlines in the 2nd quarter valued at approximately $25,000. Quent Capital LLC acquired a new position in Southwest Airlines in the 3rd quarter valued at $27,000. Corsicana & Co. purchased a new position in Southwest Airlines during the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Southwest Airlines in the second quarter valued at about $31,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Southwest Airlines by 81.4% in the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock valued at $34,000 after acquiring an additional 474 shares in the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

Southwest Airlines Company Profile

Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.

Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.