SkyWest, Inc. (NASDAQ:SKYW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have received a consensus rating of “Moderate Buy” from the four ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $105.75.

Several analysts recently weighed in on SKYW shares. The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 price target on shares of SkyWest in a report on Friday. TD Cowen boosted their target price on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Raymond James raised their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Insider Activity

In related news, Director Ronald J. Mittelstaedt sold 25,000 shares of SkyWest stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the transaction, the director now directly owns 11,283 shares of the company’s stock, valued at $1,264,372.98. This trade represents a 68.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Russell A. Childs sold 27,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the transaction, the chief executive officer now owns 349,548 shares of the company’s stock, valued at approximately $38,964,115.56. This represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SkyWest

Hedge funds and other institutional investors have recently modified their holdings of the business. UniSuper Management Pty Ltd acquired a new stake in SkyWest in the first quarter valued at about $520,000. Boston Partners acquired a new stake in shares of SkyWest in the 1st quarter valued at approximately $1,275,000. Nicholas Investment Partners LP grew its stake in shares of SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after buying an additional 85,356 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of SkyWest during the second quarter worth $520,000. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of SkyWest in the 2nd quarter valued at $1,044,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

NASDAQ:SKYW opened at $110.81 on Friday. The company has a market cap of $4.47 billion, a P/E ratio of 18.94 and a beta of 1.93. The firm’s fifty day moving average price is $90.28 and its two-hundred day moving average price is $82.06. SkyWest has a one year low of $44.71 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. SkyWest’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. Equities analysts expect that SkyWest will post 7.16 earnings per share for the current year.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.