SkyWest, Inc. (NASDAQ:SKYW) Receives $62.25 Average Price Target from Brokerages

SkyWest, Inc. (NASDAQ:SKYW) has earned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $62.25.

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a research report on Friday, February 2nd. Raymond James lifted their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $68.00 in a report on Monday, February 5th.

SkyWest Stock Performance

Shares of NASDAQ:SKYW opened at $71.35 on Friday. The business has a fifty day moving average of $66.44 and a 200-day moving average of $54.64. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.90. The firm has a market cap of $2.88 billion, a PE ratio of 82.01 and a beta of 1.95. SkyWest has a twelve month low of $23.37 and a twelve month high of $74.52.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.31. The firm had revenue of $751.80 million during the quarter, compared to analyst estimates of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the company earned ($0.93) earnings per share. On average, equities research analysts predict that SkyWest will post 6.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the transaction, the director now owns 56,067 shares in the company, valued at approximately $3,740,790.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Several institutional investors have recently modified their holdings of SKYW. Quest Partners LLC bought a new position in shares of SkyWest during the 4th quarter valued at about $26,000. GAMMA Investing LLC bought a new position in shares of SkyWest during the 4th quarter valued at about $29,000. Strs Ohio bought a new position in shares of SkyWest during the 4th quarter valued at about $36,000. Transcendent Capital Group LLC bought a new position in shares of SkyWest during the 4th quarter valued at about $52,000. Finally, Salem Investment Counselors Inc. bought a new stake in SkyWest in the 4th quarter valued at approximately $57,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Company Profile

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.