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.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 26th. The airline reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. Southwest Airlines’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. analysts anticipate that Southwest Airlines will post 4.19 EPS for the current fiscal year.

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.

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Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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