Analysts at Macquarie initiated coverage on shares of Southwest Airlines Company (NYSE:LUV) in a note issued to investors on Monday. The firm set an “outperform” rating on the airline’s stock.

Several other equities research analysts also recently commented on the stock. Bank of America Corporation upped their price target on shares of Southwest Airlines from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 30th. BidaskClub downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. Wolfe Research downgraded shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Monday, July 10th. They noted that the move was a valuation call. Finally, Vetr upgraded shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 price target for the company in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.26.

Southwest Airlines (NYSE:LUV) traded up 0.337% during mid-day trading on Monday, reaching $55.115. 3,244,719 shares of the company’s stock traded hands. Southwest Airlines has a 52-week low of $36.61 and a 52-week high of $64.39. The company has a 50-day moving average of $53.62 and a 200-day moving average of $56.83. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 16.901 and a beta of 1.29.

Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the business earned $1.19 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that Southwest Airlines will post $3.69 EPS for the current year.

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In other Southwest Airlines news, Director William H. Dr Cunningham purchased 4,500 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the purchase, the director now directly owns 66,969 shares in the company, valued at approximately $3,616,326. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LUV. BDO Wealth Advisors LLC acquired a new position in shares of Southwest Airlines during the 2nd quarter worth $102,000. Guardian Life Insurance Co. of America increased its stake in shares of Southwest Airlines by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after purchasing an additional 15 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in shares of Southwest Airlines by 13.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock worth $130,000 after purchasing an additional 250 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Southwest Airlines by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after purchasing an additional 154 shares during the last quarter. Finally, National Pension Service acquired a new position in shares of Southwest Airlines during the 2nd quarter worth $141,000. Institutional investors own 79.42% of the company’s stock.

Southwest Airlines Company Profile

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.

Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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