Southwest Airlines (LUV) Cut to “Hold” at ValuEngine
ValuEngine downgraded shares of Southwest Airlines (NYSE:LUV) from a buy rating to a hold rating in a research report released on Wednesday.
LUV has been the subject of several other research reports. Deutsche Bank reissued a buy rating and set a $71.00 price objective on shares of Southwest Airlines in a report on Friday, October 27th. Vetr lowered Southwest Airlines from a sell rating to a strong sell rating and set a $54.06 price objective for the company. in a report on Tuesday, December 5th. Morgan Stanley reissued an overweight rating on shares of Southwest Airlines in a report on Tuesday, September 12th. JPMorgan Chase & Co. boosted their price objective on Southwest Airlines from $66.00 to $67.00 and gave the stock an overweight rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded Southwest Airlines from a hold rating to a sell rating in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $67.58.
Southwest Airlines (NYSE:LUV) opened at $64.32 on Wednesday. Southwest Airlines has a twelve month low of $48.71 and a twelve month high of $66.99. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $38,170.00, a PE ratio of 18.43, a PEG ratio of 1.67 and a beta of 1.35.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.78%. Southwest Airlines’s payout ratio is 14.33%.
In other Southwest Airlines news, Director John T. Montford sold 1,695 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total value of $107,242.65. Following the completion of the sale, the director now owns 23,098 shares in the company, valued at $1,461,410.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert E. Jordan sold 32,931 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.38, for a total value of $2,120,097.78. Following the completion of the sale, the executive vice president now owns 76,993 shares of the company’s stock, valued at approximately $4,956,809.34. The disclosure for this sale can be found here. Insiders sold a total of 35,593 shares of company stock valued at $2,279,660 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. BB&T Investment Services Inc. lifted its position in Southwest Airlines by 325.5% in the third quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after purchasing an additional 1,211 shares during the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of Southwest Airlines by 13.5% during the second quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after acquiring an additional 250 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Southwest Airlines by 365.0% during the third quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after acquiring an additional 1,880 shares in the last quarter. Harfst & Associates Inc. raised its holdings in shares of Southwest Airlines by 43.8% during the second quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after acquiring an additional 732 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. bought a new position in shares of Southwest Airlines during the second quarter valued at approximately $221,000. Hedge funds and other institutional investors own 78.57% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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