Southwest Airlines (NYSE:LUV) shares gapped down before the market opened on Friday after Cowen lowered their price target on the stock from $67.00 to $65.00. The stock had previously closed at $54.41, but opened at $53.30. Cowen currently has an outperform rating on the stock. Southwest Airlines shares last traded at $53.54, with a volume of 2592216 shares changing hands.

LUV has been the subject of a number of other reports. Bank of America downgraded shares of Southwest Airlines from a “buy” rating to a “neutral” rating and set a $73.00 target price for the company. in a research report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. Stephens restated a “buy” rating and set a $75.00 target price on shares of Southwest Airlines in a research report on Thursday, March 29th. Vetr downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $63.03 target price for the company. in a research report on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. Southwest Airlines currently has a consensus rating of “Buy” and a consensus target price of $70.30.

In other news, Director Douglas H. Brooks sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.05, for a total transaction of $600,500.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO De Ven Michael G. Van sold 31,099 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $57.35, for a total transaction of $1,783,527.65. Following the sale, the chief operating officer now directly owns 172,883 shares of the company’s stock, valued at approximately $9,914,840.05. The disclosure for this sale can be found here. Insiders have sold 108,473 shares of company stock valued at $6,296,091 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LUV. Cerebellum GP LLC purchased a new stake in shares of Southwest Airlines during the fourth quarter worth about $127,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Southwest Airlines during the fourth quarter worth about $136,000. Delpha Capital Management LLC purchased a new stake in shares of Southwest Airlines during the fourth quarter worth about $151,000. Steward Partners Investment Advisory LLC increased its stake in shares of Southwest Airlines by 580.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,607 shares of the airline’s stock worth $170,000 after purchasing an additional 2,224 shares in the last quarter. Finally, Banco de Sabadell S.A purchased a new stake in shares of Southwest Airlines during the fourth quarter worth about $178,000. 80.16% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $31,649.40, a P/E ratio of 15.29, a PEG ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.64 and a current ratio of 0.70.

Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, April 26th. The airline reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Southwest Airlines had a net margin of 16.48% and a return on equity of 23.43%. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. analysts anticipate that Southwest Airlines will post 4.85 earnings per share for the current fiscal year.

About Southwest Airlines

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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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, Turks, and Chaos.

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