SkyWest, Inc. (NASDAQ:SKYW) Given Average Rating of “Buy” by Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $127.1667.

A number of equities research analysts have commented on SKYW shares. Cowen reissued a “buy” rating on shares of SkyWest in a report on Friday, October 31st. Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research upgraded shares of SkyWest from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Finally, TD Cowen increased their target price on shares of SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a report on Friday, October 31st.

SkyWest Stock Performance

NASDAQ SKYW opened at $103.51 on Wednesday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.77 and a beta of 1.63. The business’s 50 day moving average is $99.68 and its two-hundred day moving average is $105.37. SkyWest has a 12-month low of $74.70 and a 12-month high of $135.57. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 0.70.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.56 by $0.25. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts expect that SkyWest will post 9.01 EPS for the current year.

Insider Buying and Selling at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the transaction, the director directly owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of SkyWest

A number of institutional investors have recently bought and sold shares of SKYW. Salomon & Ludwin LLC purchased a new position in shares of SkyWest in the third quarter valued at $38,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of SkyWest in the 2nd quarter worth about $40,000. Fifth Third Bancorp grew its stake in SkyWest by 38.4% in the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 153 shares during the last quarter. Blue Trust Inc. grew its stake in SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 469 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in SkyWest during the 3rd quarter valued at about $62,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

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.