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

SkyWest, Inc. (NASDAQ:SKYW) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $122.00.

Several equities analysts recently issued reports on the stock. TD Cowen cut their price target on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a report on Monday, January 26th. Citigroup decreased their price objective on shares of SkyWest from $112.00 to $101.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Zacks Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a research note on Monday, January 26th.

Insiders Place Their Bets

In other SkyWest news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total value of $2,197,607.37. Following the completion of the transaction, the insider directly owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in shares of SkyWest by 480.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after purchasing an additional 216 shares in the last quarter. Transamerica Financial Advisors LLC increased its position in shares of SkyWest by 273.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock valued at $27,000 after buying an additional 197 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in SkyWest during the 3rd quarter worth $38,000. Elevation Point Wealth Partners LLC acquired a new stake in SkyWest during the 2nd quarter worth $40,000. Finally, Johnson Financial Group Inc. bought a new position in SkyWest during the third quarter worth about $62,000. 81.30% of the stock is owned by institutional investors.

SkyWest Price Performance

NASDAQ:SKYW traded down $2.13 during trading hours on Friday, reaching $91.85. The company had a trading volume of 47,290 shares, compared to its average volume of 314,625. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $99.06 and a two-hundred day moving average of $100.27. SkyWest has a one year low of $74.70 and a one year high of $123.94. The firm has a market capitalization of $3.71 billion, a PE ratio of 8.87, a PEG ratio of 1.27 and a beta of 1.58.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $993.12 million. During the same period in the previous year, the business posted $2.34 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. Analysts forecast that SkyWest will post 9.01 earnings per share for the current year.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.