SkyWest, Inc. (NASDAQ:SKYW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “

SKYW has been the subject of several other reports. BidaskClub downgraded SkyWest from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 29th. Finally, Cowen and Company increased their target price on SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.17.

SkyWest (NASDAQ:SKYW) opened at 46.30 on Wednesday. The company’s market capitalization is $2.40 billion. SkyWest has a 12-month low of $28.05 and a 12-month high of $47.60. The company has a 50 day moving average price of $40.55 and a 200-day moving average price of $36.79.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The business had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. During the same period in the prior year, the company earned $0.77 EPS. SkyWest’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that SkyWest will post $3.25 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in SkyWest by 49,259.4% in the first quarter. BlackRock Inc. now owns 6,176,837 shares of the transportation company’s stock valued at $211,556,000 after purchasing an additional 6,164,323 shares during the last quarter. Vanguard Group Inc. raised its position in SkyWest by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock valued at $206,868,000 after purchasing an additional 105,193 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SkyWest by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,383,507 shares of the transportation company’s stock valued at $150,134,000 after purchasing an additional 16,894 shares during the last quarter. State Street Corp raised its position in SkyWest by 7.2% in the first quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock valued at $47,093,000 after purchasing an additional 92,598 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in SkyWest by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock valued at $45,479,000 after purchasing an additional 117,700 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

About SkyWest

SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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