SkyWest (NASDAQ:SKYW) Stock Price Up 3.5%

Shares of SkyWest, Inc. (NASDAQ:SKYW) shot up 3.5% during trading on Monday . The company traded as high as $79.72 and last traded at $79.46. 151,121 shares were traded during trading, a decline of 65% from the average session volume of 436,029 shares. The stock had previously closed at $76.74.

Wall Street Analyst Weigh In

SKYW has been the subject of several research reports. TD Cowen increased their price objective on SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Evercore ISI raised their price target on shares of SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.67.

SkyWest Price Performance

The company has a market cap of $3.17 billion, a price-to-earnings ratio of 28.04 and a beta of 1.96. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average price of $79.90 and a two-hundred day moving average price of $70.17.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.09. SkyWest had a net margin of 5.55% and a return on equity of 8.18%. The firm had revenue of $867.10 million for the quarter, compared to the consensus estimate of $826.56 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that SkyWest, Inc. will post 6.88 EPS for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $79.08, for a total transaction of $158,160.00. Following the sale, the director now directly owns 46,462 shares of the company’s stock, valued at $3,674,214.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Russell A. Childs sold 32,286 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $77.05, for a total transaction of $2,487,636.30. Following the sale, the chief executive officer now directly owns 377,451 shares in the company, valued at approximately $29,082,599.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total value of $158,160.00. Following the completion of the transaction, the director now owns 46,462 shares of the company’s stock, valued at approximately $3,674,214.96. The disclosure for this sale can be found here. Insiders sold 94,290 shares of company stock valued at $7,282,611 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKYW. Quest Partners LLC bought a new position in shares of SkyWest in the fourth quarter worth about $26,000. GAMMA Investing LLC bought a new stake in shares of SkyWest during the fourth quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SkyWest in the second quarter valued at approximately $54,000. Strs Ohio bought a new position in SkyWest in the 4th quarter worth approximately $36,000. Finally, CWM LLC lifted its holdings in SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.