SkyWest (NASDAQ:SKYW) Reaches New 1-Year Low – What’s Next?

SkyWest, Inc. (NASDAQ:SKYW)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $79.25 and last traded at $79.93, with a volume of 19585 shares changing hands. The stock had previously closed at $81.79.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Citigroup lowered their price target on SkyWest from $101.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Weiss Ratings downgraded SkyWest from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Cantor Fitzgerald set a $122.00 price target on SkyWest in a report on Monday, January 26th. Finally, TD Cowen lowered their price target on SkyWest from $106.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.00.

SkyWest Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.51. The firm has a 50-day moving average of $89.67 and a 200-day moving average of $96.97. The stock has a market cap of $3.30 billion, a PE ratio of 7.99, a PEG ratio of 1.13 and a beta of 1.48.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.35. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 EPS. Research analysts predict that SkyWest, Inc. will post 10.69 EPS for the current year.

Insider Activity

In related news, insider Wade J. Steel sold 20,629 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the completion of the sale, the insider directly owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. This trade represents a 21.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its stake in SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 216 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in SkyWest during the 1st quarter valued at about $26,000. Transamerica Financial Advisors LLC grew its stake in SkyWest by 273.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in SkyWest during the 3rd quarter valued at about $62,000. Finally, EverSource Wealth Advisors LLC grew its stake in SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Company Profile

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.