Southwest Airlines (NYSE:LUV) had its price objective reduced by UBS from $75.00 to $70.00 in a research note published on Thursday morning, www.benzinga.com reports. UBS currently has a buy rating on the airline’s stock.
Several other equities research analysts have also recently weighed in on LUV. Zacks Investment Research cut Southwest Airlines from a buy rating to a hold rating in a research note on Tuesday, March 13th. Stifel Nicolaus restated a buy rating and set a $85.00 target price (up previously from $80.00) on shares of Southwest Airlines in a research note on Wednesday, January 10th. Vetr upgraded Southwest Airlines from a buy rating to a strong-buy rating and set a $65.42 target price for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. cut Southwest Airlines from an overweight rating to a neutral rating and set a $70.00 target price for the company. in a research note on Tuesday, January 30th. Finally, ValuEngine cut Southwest Airlines from a buy rating to a hold rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. Southwest Airlines currently has an average rating of Buy and a consensus price target of $69.95.
Southwest Airlines stock opened at $56.72 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market capitalization of $33,348.58, a PE ratio of 16.21, a PEG ratio of 1.43 and a beta of 1.20. Southwest Airlines has a 52 week low of $49.76 and a 52 week high of $66.99.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, March 6th. Southwest Airlines’s dividend payout ratio (DPR) is 8.59%.
In other Southwest Airlines news, Director Douglas H. Brooks sold 10,000 shares of Southwest Airlines stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.05, for a total transaction of $600,500.00. Following the transaction, the director now owns 56,269 shares of the company’s stock, valued at $3,378,953.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William H. Dr Cunningham purchased 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $56.25 per share, for a total transaction of $196,875.00. Following the transaction, the director now owns 70,469 shares of the company’s stock, valued at $3,963,881.25. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 108,473 shares of company stock worth $6,296,091. 0.21% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Certified Advisory Corp acquired a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $2,529,000. Ackerman Capital Advisors LLC acquired a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $360,000. Xact Kapitalforvaltning AB increased its holdings in shares of Southwest Airlines by 5.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 39,219 shares of the airline’s stock valued at $2,567,000 after purchasing an additional 1,908 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Southwest Airlines by 133.1% in the fourth quarter. William Blair Investment Management LLC now owns 666,708 shares of the airline’s stock valued at $43,636,000 after purchasing an additional 380,673 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Southwest Airlines by 76.1% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 11,800 shares of the airline’s stock valued at $772,000 after purchasing an additional 5,100 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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