SkyWest, Inc. (NASDAQ:SKYW) Receives Average Recommendation of “Moderate Buy” from Brokerages

SkyWest, Inc. (NASDAQ:SKYW) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $107.25.

Several research firms have weighed in on SKYW. Raymond James boosted their price objective on SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. Finally, TD Cowen raised their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th.

Insider Activity at SkyWest

In other news, CAO Eric Woodward sold 4,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the transaction, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the sale, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,467 shares of company stock valued at $10,082,596. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. raised its holdings in shares of SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after buying an additional 342 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in SkyWest during the third quarter valued at approximately $31,000. GAMMA Investing LLC raised its stake in shares of SkyWest by 47.1% during the third quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after acquiring an additional 437 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SkyWest in the 3rd quarter worth approximately $158,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of SkyWest in the 3rd quarter valued at $168,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Stock Performance

Shares of SKYW stock opened at $111.08 on Friday. SkyWest has a one year low of $48.28 and a one year high of $117.51. The company has a market cap of $4.48 billion, a P/E ratio of 18.99 and a beta of 1.98. The firm has a 50-day moving average of $108.06 and a 200-day moving average of $91.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts forecast that SkyWest will post 7.16 EPS for the current fiscal year.

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.