Southwest Airlines Co. [LUV] Stock trading around $50.70 per share: What’s Next?

Southwest Airlines Co. [NYSE: LUV] price plunged by -1.15 percent to reach at -$0.59. The company report on July 22, 2021 that Southwest Reports Second Quarter 2021 Results.

Southwest Airlines Co. (NYSE: LUV) (the “Company”) reported its second quarter 2021 financial results:.

Second quarter net income of $348 million, or $.57 per diluted share, driven by a $724 million offset of salaries, wages, and benefits expenses related to the receipt of Payroll Support Program (PSP) proceeds under the Consolidated Appropriations Act, 2021 and American Rescue Plan Act of 2021.

A sum of 8786353 shares traded at recent session while its average daily volume was at 6.66M shares. Southwest Airlines Co. shares reached a high of $52.01 and dropped to a low of $50.56 until finishing in the latest session at $50.70.

The one-year LUV stock forecast points to a potential upside of 27.55. The average equity rating for LUV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Southwest Airlines Co. [LUV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LUV shares is $69.98 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LUV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

MKM Partners have made an estimate for Southwest Airlines Co. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 10, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $44 to $66. The new note on the price target was released on April 14, 2021, representing the official price target for Southwest Airlines Co. stock. Previously, the target price had yet another raise to $68, while Argus analysts kept a Buy rating on LUV stock.

The Average True Range (ATR) for Southwest Airlines Co. is set at 1.63, with the Price to Sales ratio for LUV stock in the period of the last 12 months amounting to 4.42. The Price to Book ratio for the last quarter was 3.29, with the Price to Cash per share for the same quarter was set at 23.98.

LUV Stock Performance Analysis:

Southwest Airlines Co. [LUV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.58. With this latest performance, LUV shares dropped by -8.14% in over the last four-week period, additionally plugging by 6.98% over the last 6 months – not to mention a rise of 54.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LUV stock in for the last two-week period is set at 40.77, with the RSI for the last a single of trading hit 42.47, and the three-weeks RSI is set at 40.07 for Southwest Airlines Co. [LUV]. The present Moving Average for the last 50 days of trading for this stock 56.16, while it was recorded at 51.01 for the last single week of trading, and 52.35 for the last 200 days.

Insight into Southwest Airlines Co. Fundamentals:

Southwest Airlines Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.00.

Southwest Airlines Co. [LUV] Insider Position Details

There are presently around $23,570 million, or 80.00% of LUV stock, in the hands of institutional investors. The top three institutional holders of LUV stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 58,976,270, which is approximately -9.565% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 51,951,706 shares of the stock with an approximate value of $2.63 billion in LUV stocks shares; and STATE STREET CORP, currently with $2.09 billion in LUV stock with ownership of nearly -4.051% of the company’s market capitalization.

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Positions in Southwest Airlines Co. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 503 institutional holders increased their position in Southwest Airlines Co. [NYSE:LUV] by around 48,695,847 shares. Additionally, 484 investors decreased positions by around 32,103,903 shares, while 178 investors held positions by with 384,088,883 shares. The mentioned changes placed institutional holdings at 464,888,633 shares, according to the latest SEC report filing. LUV stock had 155 new institutional investments in for a total of 6,358,839 shares, while 109 institutional investors sold positions of 3,403,035 shares during the same period.

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