The Goldman Sachs Group Reaffirms “Neutral” Rating for SkyWest (NASDAQ:SKYW)

SkyWest (NASDAQ:SKYW)‘s stock had its “neutral” rating restated by research analysts at The Goldman Sachs Group in a note issued to investors on Friday,Benzinga reports. They currently have a $119.00 price objective on the transportation company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 7.39% from the stock’s current price.

Several other brokerages have also recently weighed in on SKYW. TD Cowen increased their price target 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. Raymond James boosted their price target on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SkyWest has an average rating of “Moderate Buy” and a consensus price target of $105.75.

SkyWest Stock Performance

SkyWest stock opened at $110.81 on Friday. The firm has a fifty day simple moving average of $90.28 and a two-hundred day simple moving average of $82.06. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. SkyWest has a twelve month low of $44.71 and a twelve month high of $116.47. The company has a market capitalization of $4.47 billion, a PE ratio of 18.94 and a beta of 1.93.

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

Insider Buying and Selling at SkyWest

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the transaction, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at $4,954,831.78. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKYW. Allspring Global Investments Holdings LLC raised its holdings in SkyWest by 13,737.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,214 shares of the transportation company’s stock worth $153,000 after acquiring an additional 2,198 shares during the last quarter. SG Americas Securities LLC purchased a new position in SkyWest in the 1st quarter worth about $279,000. Sei Investments Co. lifted its stake in SkyWest by 291.4% during the 1st quarter. Sei Investments Co. now owns 54,533 shares of the transportation company’s stock valued at $3,767,000 after acquiring an additional 40,599 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of SkyWest by 40.6% during the 1st quarter. Russell Investments Group Ltd. now owns 58,888 shares of the transportation company’s stock valued at $4,068,000 after acquiring an additional 17,003 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of SkyWest by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,180 shares of the transportation company’s stock worth $565,000 after acquiring an additional 562 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

About SkyWest

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.