SkyWest (NASDAQ:SKYW) Director Sells $503,401.50 in Stock

SkyWest, Inc. (NASDAQ:SKYW) Director Meredith Siegfried Madden sold 4,725 shares of SkyWest 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 sale, the director directly owned 25,362 shares in the company, valued at $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SkyWest Stock Down 1.6%

NASDAQ SKYW opened at $101.90 on Thursday. The business has a fifty day moving average price of $99.73 and a 200 day moving average price of $105.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.61 and a current ratio of 0.71. The company has a market cap of $4.09 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.78 and a beta of 1.63. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.25. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 earnings per share. Research analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC purchased a new position in shares of SkyWest during the 3rd quarter worth $38,000. Elevation Point Wealth Partners LLC purchased a new position in SkyWest during the second quarter worth about $40,000. Fifth Third Bancorp increased its position in shares of SkyWest by 38.4% during the second 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. raised its stake in shares of 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 period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of SkyWest in the 3rd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SKYW has been the topic of a number of research reports. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Cantor Fitzgerald set a $132.00 price objective on SkyWest in a research note on Friday, October 31st. Wall Street Zen cut SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup assumed coverage on SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price target on the stock. Finally, Cowen reissued a “buy” rating on shares of SkyWest in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $127.17.

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.