SkyWest, Inc. (NASDAQ:SKYW) Stock Has Average Price Target of $121.00 According to Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $121.00.

Several brokerages have commented on SKYW. The Goldman Sachs Group lowered shares of SkyWest from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $126.00 to $115.00 in a research report on Thursday, July 2nd. Citigroup raised their price target on shares of SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings raised shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Finally, TD Cowen upped their price objective on SkyWest from $115.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, August 24th.

Insider Transactions at SkyWest

In related news, VP Greg Wooley sold 17,726 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $108.55, for a total value of $1,924,157.30. Following the sale, the vice president directly owned 53,323 shares in the company, valued at approximately $5,788,211.65. The trade was a 24.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Russell A. Childs sold 50,500 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $113.21, for a total transaction of $5,717,105.00. Following the sale, the chief executive officer directly owned 346,190 shares in the company, valued at approximately $39,192,169.90. This trade represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 115,226 shares of company stock worth $12,855,192 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of SkyWest

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of SkyWest in the second quarter worth $682,530,000. Bank of New York Mellon Corp bought a new stake in SkyWest during the second quarter valued at $28,177,000. Bank of America Corp DE bought a new stake in SkyWest during the second quarter valued at $24,254,000. William Blair Investment Management LLC purchased a new position in SkyWest during the second quarter worth about $15,301,000. Finally, J. Goldman & Co LP purchased a new position in SkyWest during the second quarter worth about $12,992,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SkyWest stock opened at $100.69 on Friday. The business’s fifty day simple moving average is $102.07 and its 200 day simple moving average is $94.72. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 0.59. SkyWest has a 12 month low of $77.89 and a 12 month high of $117.72. The firm has a market capitalization of $3.91 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.16). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.91 earnings per share. As a group, analysts anticipate that SkyWest will post 10.64 EPS for the current year.

SkyWest announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

SkyWest Company Profile

SkyWest, Inc is a regional airline holding company headquartered in St. George, Utah. Through its subsidiaries, the company provides scheduled passenger air service for major U.S. airline partners, connecting smaller communities with larger hub airports.

SkyWest Airlines operates flights under capacity purchase agreements with Alaska Airlines, American Airlines, Delta Air Lines and United Airlines. Its fleet primarily consists of regional aircraft, including Embraer E175 and Bombardier CRJ models, and serves destinations throughout the United States as well as selected locations in Canada, Mexico and the Caribbean.

SkyWest also operates SkyWest Charter, which provides public charter air transportation.