Southwest Airlines Company (LUV) Downgraded to “Hold” at Vetr Inc.

Vetr cut shares of Southwest Airlines Company (NYSE:LUV) from a buy rating to a hold rating in a report issued on Thursday morning. They currently have $63.80 price target on the airline’s stock.

Several other brokerages have also commented on LUV. Argus upgraded Southwest Airlines Company from a hold rating to a buy rating and increased their price objective for the company from $61.76 to $68.00 in a research report on Thursday. Zacks Investment Research upgraded Southwest Airlines Company from a hold rating to a buy rating and set a $68.00 price objective on the stock in a research report on Tuesday, June 6th. Atlantic Securities began coverage on Southwest Airlines Company in a research report on Tuesday. They set a neutral rating and a $71.00 price objective on the stock. BidaskClub upgraded Southwest Airlines Company from a hold rating to a buy rating in a research report on Tuesday. Finally, Stifel Nicolaus reiterated a buy rating and set a $80.00 price objective on shares of Southwest Airlines Company in a research report on Friday, May 26th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $61.76.

Southwest Airlines Company (NYSE:LUV) traded up 0.59% during mid-day trading on Thursday, hitting $61.88. The stock had a trading volume of 1,495,313 shares. Southwest Airlines Company has a 52 week low of $35.42 and a 52 week high of $62.19. The firm has a market cap of $37.42 billion, a PE ratio of 18.56 and a beta of 1.26. The company’s 50 day moving average price is $59.15 and its 200 day moving average price is $54.80.

Southwest Airlines Company (NYSE:LUV) last announced its quarterly earnings data on Thursday, April 27th. The airline reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by $0.01. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.91 billion. Southwest Airlines Company had a net margin of 10.16% and a return on equity of 26.75%. Southwest Airlines Company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. Analysts anticipate that Southwest Airlines Company will post $3.85 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.125 per share. This is a boost from Southwest Airlines Company’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, June 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.81%. Southwest Airlines Company’s payout ratio is presently 15.11%.

In other Southwest Airlines Company news, CFO Tammy Romo sold 8,322 shares of Southwest Airlines Company stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.15, for a total transaction of $492,246.30. Following the completion of the transaction, the chief financial officer now owns 87,387 shares in the company, valued at $5,168,941.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeff Lamb sold 19,800 shares of Southwest Airlines Company stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $61.00, for a total value of $1,207,800.00. Following the transaction, the executive vice president now owns 92,468 shares of the company’s stock, valued at approximately $5,640,548. The disclosure for this sale can be found here. Insiders have sold 118,740 shares of company stock valued at $6,923,568 in the last quarter. 0.18% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in shares of Southwest Airlines Company by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 2,348 shares of the airline’s stock worth $117,000 after buying an additional 136 shares during the last quarter. Martingale Asset Management L P bought a new position in shares of Southwest Airlines Company during the fourth quarter worth about $230,000. Aviva PLC boosted its position in shares of Southwest Airlines Company by 3.3% in the fourth quarter. Aviva PLC now owns 102,268 shares of the airline’s stock worth $5,098,000 after buying an additional 3,246 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in shares of Southwest Airlines Company by 53.2% in the fourth quarter. First Allied Advisory Services Inc. now owns 25,879 shares of the airline’s stock worth $1,290,000 after buying an additional 8,985 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its position in shares of Southwest Airlines Company by 10.8% in the fourth quarter. Employees Retirement System of Texas now owns 70,900 shares of the airline’s stock worth $3,534,000 after buying an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

About Southwest Airlines Company

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 Vetr’s full report, visit Vetr’s official website.

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