Dimensional Fund Advisors LP Acquires 20,678 Shares of SkyWest, Inc. $SKYW

Dimensional Fund Advisors LP grew its stake in SkyWest, Inc. (NASDAQ:SKYW) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,529,333 shares of the transportation company’s stock after purchasing an additional 20,678 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of SkyWest worth $232,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Watershed Asset Management L.L.C. increased its holdings in SkyWest by 17.8% in the first quarter. Watershed Asset Management L.L.C. now owns 5,142 shares of the transportation company’s stock valued at $472,000 after purchasing an additional 777 shares during the last quarter. Assetmark Inc. boosted its holdings in SkyWest by 7.4% during the first quarter. Assetmark Inc. now owns 81,863 shares of the transportation company’s stock worth $7,517,000 after buying an additional 5,634 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in SkyWest by 21.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 215,017 shares of the transportation company’s stock worth $20,147,000 after buying an additional 38,135 shares during the last quarter. Independent Financial Group LLC acquired a new position in shares of SkyWest during the 1st quarter worth about $326,000. Finally, Illinois Municipal Retirement Fund grew its position in shares of SkyWest by 13.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,576 shares of the transportation company’s stock worth $2,165,000 after buying an additional 2,744 shares during the period. 81.30% of the stock is currently owned by institutional investors.

SkyWest Stock Performance

SKYW stock opened at $96.24 on Friday. SkyWest, Inc. has a 1-year low of $77.89 and a 1-year high of $123.94. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66. The firm has a market cap of $3.82 billion, a PE ratio of 9.23, a P/E/G ratio of 1.39 and a beta of 1.45. The business’s 50-day moving average price is $91.58 and its two-hundred day moving average price is $94.38.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, July 23rd. The transportation company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.01. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $2.91 earnings per share. SkyWest’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that SkyWest, Inc. will post 10.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SKYW. TD Cowen upped their price target on SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Citigroup boosted their price objective on shares of SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, June 26th. The Goldman Sachs Group downgraded shares of SkyWest from a “buy” rating to a “neutral” rating and lowered their target price for the company from $126.00 to $115.00 in a research note on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.17.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.