SkyWest, Inc. (NASDAQ:SKYW) Receives Consensus Rating of “Moderate Buy” from Brokerages

SkyWest, Inc. (NASDAQ:SKYW) has earned a consensus recommendation of “Moderate Buy” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $107.25.

Several equities analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. TD Cowen increased their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Raymond James lifted their price objective on SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th.

Insider Buying and Selling

In related news, CAO Eric Woodward sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the sale, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of the firm’s stock in a transaction 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 represents a 68.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock valued at $10,082,596 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in shares of SkyWest by 1.9% during the second quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock valued at $681,000 after purchasing an additional 152 shares during the last quarter. CIBC Asset Management Inc purchased a new position in SkyWest during the second quarter valued at $201,000. Victory Capital Management Inc. boosted its holdings in SkyWest by 90.2% in the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after acquiring an additional 261,349 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of SkyWest in the second quarter worth $231,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of SkyWest in the second quarter worth $520,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of SkyWest stock opened at $111.08 on Friday. 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 has a one year low of $48.28 and a one year high of $117.51. The business’s 50 day simple moving average is $108.06 and its two-hundred day simple moving average is $91.07. The stock has a market capitalization of $4.48 billion, a P/E ratio of 18.99 and a beta of 1.98.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts forecast that SkyWest will post 7.16 EPS for the current year.

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.