SkyWest, Inc. (SKYW) Downgraded to “Strong Sell” at BidaskClub
SkyWest, Inc. (NASDAQ:SKYW) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday.
SKYW has been the subject of several other reports. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, May 2nd. Deutsche Bank AG upped their price target on SkyWest from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Cowen and Company upped their price target on SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. Finally, ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have given a strong buy rating to the company. SkyWest currently has a consensus rating of “Buy” and an average price target of $41.67.
Shares of SkyWest (NASDAQ SKYW) traded down 0.14% on Tuesday, hitting $34.65. 42,743 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $36.63 and its 200 day moving average price is $35.54. The company’s market cap is $1.80 billion. SkyWest has a 1-year low of $25.04 and a 1-year high of $39.85.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $790.14 million. During the same period in the previous year, the firm earned $0.77 EPS. SkyWest’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that SkyWest will post $3.26 earnings per share for the current year.
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Several large investors have recently made changes to their positions in SKYW. UBS Asset Management Americas Inc. bought a new stake in shares of SkyWest during the fourth quarter worth about $245,000. Teachers Advisors LLC boosted its stake in shares of SkyWest by 77.1% in the fourth quarter. Teachers Advisors LLC now owns 198,946 shares of the transportation company’s stock worth $7,252,000 after buying an additional 86,594 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of SkyWest by 10.0% in the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock worth $126,000 after buying an additional 334 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of SkyWest by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the transportation company’s stock worth $723,000 after buying an additional 300 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of SkyWest by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,720 shares of the transportation company’s stock worth $195,000 after buying an additional 140 shares in the last quarter. Institutional investors own 90.32% of the company’s stock.
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.
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