Raymond James Lowers SkyWest (NASDAQ:SKYW) to Market Perform

SkyWest (NASDAQ:SKYWGet Rating) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Briefing.com reports.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price objective on SkyWest from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. StockNews.com began coverage on SkyWest in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded SkyWest from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research note on Tuesday, March 15th. Finally, Deutsche Bank Aktiengesellschaft cut SkyWest from a “buy” rating to a “hold” rating and cut their price objective for the company from $65.00 to $39.00 in a research note on Friday, February 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, SkyWest presently has a consensus rating of “Hold” and a consensus target price of $40.40.

Shares of SKYW opened at $29.69 on Wednesday. The company has a market capitalization of $1.50 billion, a P/E ratio of 13.43 and a beta of 1.88. SkyWest has a one year low of $22.78 and a one year high of $53.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.81 and a current ratio of 0.89. The stock has a 50-day moving average price of $28.26 and a 200 day moving average price of $37.01.

SkyWest (NASDAQ:SKYWGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The transportation company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.17. The firm had revenue of $777.16 million during the quarter, compared to the consensus estimate of $720.09 million. SkyWest had a return on equity of 7.85% and a net margin of 4.12%. As a group, equities research analysts forecast that SkyWest will post -0.43 earnings per share for the current fiscal year.

In related news, Director Jerry C. Atkin purchased 55,000 shares of the company’s stock in a transaction dated Friday, March 11th. The shares were acquired at an average cost of $25.33 per share, for a total transaction of $1,393,150.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. First Quadrant LLC CA acquired a new stake in shares of SkyWest during the 1st quarter worth approximately $43,000. Strs Ohio increased its position in SkyWest by 387.7% in the 1st quarter. Strs Ohio now owns 35,600 shares of the transportation company’s stock valued at $1,027,000 after acquiring an additional 28,300 shares during the period. Inspire Investing LLC acquired a new stake in SkyWest in the 1st quarter valued at approximately $237,000. CWM LLC increased its position in SkyWest by 165.6% in the 1st quarter. CWM LLC now owns 956 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 596 shares during the period. Finally, Norges Bank acquired a new stake in SkyWest in the 4th quarter valued at approximately $5,094,000. Institutional investors and hedge funds own 88.32% of the company’s stock.

SkyWest Company Profile (Get Rating)

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.

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