SkyWest (NASDAQ:SKYW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $63.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.80% from the stock’s previous close.

According to Zacks, “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. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its nearly 17,000 employees. “

A number of other equities research analysts have also weighed in on SKYW. BidaskClub raised SkyWest from a “hold” rating to a “buy” rating in a report on Thursday. Imperial Capital lifted their price target on shares of SkyWest from $47.00 to $55.00 and gave the company an “in-line” rating in a research report on Tuesday, February 6th. Cowen reiterated a “buy” rating and set a $60.00 price target on shares of SkyWest in a research report on Tuesday, January 9th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Raymond James lifted their price target on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.00.

Shares of SKYW opened at $56.35 on Thursday. SkyWest has a twelve month low of $31.75 and a twelve month high of $60.65. The company has a market capitalization of $2,978.63, a price-to-earnings ratio of 16.43 and a beta of 1.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.07 and a current ratio of 1.21.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. The company had revenue of $797.20 million for the quarter, compared to analyst estimates of $778.13 million. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. analysts expect that SkyWest will post 4.41 EPS for the current year.

In related news, COO Terry Vais sold 5,800 shares of SkyWest stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $56.00, for a total transaction of $324,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert J. Simmons sold 39,339 shares of SkyWest stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $55.94, for a total value of $2,200,623.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,639 shares of company stock valued at $2,781,474. Insiders own 3.50% of the company’s stock.

Several institutional investors have recently modified their holdings of SKYW. Envestnet Asset Management Inc. raised its position in shares of SkyWest by 218.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,069 shares of the transportation company’s stock worth $223,000 after purchasing an additional 3,478 shares during the last quarter. California Public Employees Retirement System raised its position in shares of SkyWest by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 174,774 shares of the transportation company’s stock worth $7,673,000 after purchasing an additional 2,633 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of SkyWest by 6.2% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the transportation company’s stock worth $1,184,000 after purchasing an additional 1,300 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of SkyWest by 0.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 481,899 shares of the transportation company’s stock worth $25,589,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of SkyWest during the 4th quarter worth approximately $298,000. Hedge funds and other institutional investors own 89.68% of the company’s stock.

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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.

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