Jefferies lifts Southwest Airlines Co [LUV] price estimate. Who else is bullish?

Southwest Airlines Co [NYSE: LUV] traded at a low on Thursday, posting a -0.27 loss after which it closed the day’ session at $29.19. The company report on March 28, 2024 at 2:30 PM that SOUTHWEST AIRLINES ACQUIRES SAFFiRE RENEWABLES AND STRENGTHENS FOCUS ON SUSTAINABILITY.

Southwest Airlines Co. (NYSE: LUV) announces the acquisition of SAFFiRE Renewables, LLC (SAFFiRE) as part of the investment portfolio of its wholly owned subsidiary Southwest Airlines Renewable Ventures, LLC (SARV). SARV is dedicated to creating more opportunities for Southwest® to obtain scalable sustainable aviation fuel (SAF).

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SAFFiRE is part of a project supported by the Department of Energy (DOE) to develop and produce scalable renewable ethanol that can be upgraded into SAF. SAFFiRE expects to utilize technology developed at the DOE’s National Renewable Energy Laboratory (NREL) to convert corn stover, a widely available agricultural residue feedstock in the U.S., into renewable ethanol.

The results of the trading session contributed to over 9914350 shares changing hands. Over the past one week, the price volatility of Southwest Airlines Co stands at 1.65% while the volatility over the past one month is 2.28%.

The market cap for LUV stock reached $17.42 billion, with 596.51 million shares outstanding and 593.72 million shares in the current float. Compared to the average trading volume of 8.28M shares, LUV reached a trading volume of 9914350 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $30.48 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 3.00. 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.

Jefferies have made an estimate for Southwest Airlines Co shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 13, 2024. The new note on the price target was released on March 12, 2024, representing the official price target for Southwest Airlines Co stock. Previously, the target price had yet another raise from $28 to $42, while Deutsche Bank kept a Buy rating on LUV stock.

The Average True Range (ATR) for Southwest Airlines Co is set at 0.79, with the Price to Sales ratio for LUV stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 19.23.

How has LUV stock performed recently?

Southwest Airlines Co [LUV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.78. With this latest performance, LUV shares dropped by -15.32% in over the last four-week period, additionally plugging by 8.88% over the last 6 months – not to mention a drop of -4.70% 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 40.26, with the RSI for the last a single of trading hit 41.61, and the three-weeks RSI is set at 42.27 for Southwest Airlines Co [LUV]. The present Moving Average for the last 50 days of trading for this stock 31.44, while it was recorded at 28.77 for the last single week of trading, and 30.15 for the last 200 days.

Southwest Airlines Co [LUV]: Deeper insight into the fundamentals

Southwest Airlines Co’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.07 and a Current Ratio set at 1.14.

Earnings analysis for Southwest Airlines Co [LUV]

With the latest financial reports released by the company, Southwest Airlines Co posted -0.27/share EPS, while the average EPS was predicted by analysts to be reported at -0.23/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -17.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LUV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Southwest Airlines Co go to 22.46%.

Insider trade positions for Southwest Airlines Co [LUV]

The top three institutional holders of LUV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in LUV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LUV stock with ownership which is approximately 5.8325%.