SkyWest (NASDAQ:SKYW) Stock Rating Lowered by Zacks Research

SkyWest (NASDAQ:SKYW) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on SKYW. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Citigroup assumed coverage on SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective for the company. Cowen reissued a “buy” rating on shares of SkyWest in a report on Friday, October 31st. Cantor Fitzgerald set a $132.00 price target on shares of SkyWest in a research report on Friday, October 31st. Finally, Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $127.17.

SkyWest Stock Performance

NASDAQ SKYW opened at $101.90 on Tuesday. The company has a fifty day moving average price of $99.73 and a 200-day moving average price of $105.35. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.78 and a beta of 1.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. SkyWest has a 1 year low of $74.70 and a 1 year high of $135.57.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.25. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities research analysts predict that SkyWest will post 9.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the sale, the director directly owned 25,362 shares in the company, valued at approximately $2,702,067.48. This represents a 15.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SkyWest

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its position in shares of SkyWest by 0.8% during the second quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock valued at $1,150,000 after purchasing an additional 87 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in SkyWest by 0.4% during the second quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock valued at $2,257,000 after buying an additional 95 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of SkyWest by 4.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock valued at $257,000 after buying an additional 100 shares in the last quarter. GK Wealth Management LLC grew its position in shares of SkyWest by 2.4% in the 1st quarter. GK Wealth Management LLC now owns 4,600 shares of the transportation company’s stock worth $402,000 after buying an additional 106 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in shares of SkyWest by 0.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock worth $1,225,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

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.