Macquarie Reiterates “$71.00” Price Target for Southwest Airlines (LUV)
Southwest Airlines (NYSE:LUV) has been given a $71.00 price target by equities researchers at Macquarie in a research report issued on Monday. The firm presently has a “buy” rating on the airline’s stock. Macquarie’s price objective points to a potential upside of 12.99% from the stock’s current price.
Several other analysts have also weighed in on the company. Buckingham Research raised their price objective on Southwest Airlines from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Argus raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Friday, September 7th. Wolfe Research lowered Southwest Airlines from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 24th. Imperial Capital raised their price objective on Southwest Airlines from $54.00 to $60.00 and gave the company an “inline” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Southwest Airlines in a research note on Tuesday, August 14th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and an average target price of $68.95.
NYSE:LUV traded up $0.41 during trading hours on Monday, hitting $62.84. The company’s stock had a trading volume of 33,698 shares, compared to its average volume of 3,610,095. The firm has a market capitalization of $35.17 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.10. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. Southwest Airlines has a twelve month low of $49.93 and a twelve month high of $66.99.
In other news, EVP Andrew M. Watterson sold 6,130 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $59.28, for a total transaction of $363,386.40. Following the completion of the transaction, the executive vice president now directly owns 16,597 shares in the company, valued at $983,870.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Montford sold 430 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total value of $25,056.10. Following the transaction, the director now owns 23,853 shares of the company’s stock, valued at $1,389,914.31. The disclosure for this sale can be found here. Insiders sold 11,470 shares of company stock valued at $674,941 over the last quarter. Corporate insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners raised its position in shares of Southwest Airlines by 5.2% during the second quarter. Boston Partners now owns 8,927,411 shares of the airline’s stock worth $454,227,000 after acquiring an additional 443,918 shares during the last quarter. Bank of Montreal Can raised its position in shares of Southwest Airlines by 9.3% during the second quarter. Bank of Montreal Can now owns 5,832,599 shares of the airline’s stock worth $296,764,000 after acquiring an additional 494,484 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Southwest Airlines by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,637,579 shares of the airline’s stock worth $185,076,000 after acquiring an additional 328,453 shares during the last quarter. American Century Companies Inc. raised its position in shares of Southwest Airlines by 33.9% during the second quarter. American Century Companies Inc. now owns 3,500,152 shares of the airline’s stock worth $178,088,000 after acquiring an additional 886,325 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Southwest Airlines by 12.2% during the second quarter. Wells Fargo & Company MN now owns 3,324,336 shares of the airline’s stock worth $169,142,000 after acquiring an additional 360,539 shares during the last quarter. Institutional investors own 78.07% of the company’s stock.
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, and Turks and Caicos.
Further Reading: Marijuana Stocks Investing Considerations
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.