California State Teachers Retirement System reduced its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW – Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,657 shares of the transportation company’s stock after selling 1,244 shares during the period. California State Teachers Retirement System owned 0.07% of SkyWest worth $657,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in SKYW. Kopernik Global Investors LLC acquired a new stake in SkyWest during the fourth quarter worth approximately $41,792,000. Russell Investments Group Ltd. acquired a new stake in shares of SkyWest during the 4th quarter worth approximately $7,113,000. Renaissance Technologies LLC increased its stake in shares of SkyWest by 1,409.6% in the 1st quarter. Renaissance Technologies LLC now owns 422,199 shares of the transportation company’s stock valued at $12,180,000 after acquiring an additional 394,231 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of SkyWest by 187.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 484,357 shares of the transportation company’s stock valued at $13,974,000 after acquiring an additional 315,893 shares during the period. Finally, State Street Corp boosted its stake in SkyWest by 14.4% during the first quarter. State Street Corp now owns 2,442,697 shares of the transportation company’s stock worth $70,472,000 after acquiring an additional 306,987 shares in the last quarter. 79.94% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
SKYW has been the subject of several research analyst reports. Raymond James raised shares of SkyWest from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research note on Thursday, August 31st. StockNews.com assumed coverage on SkyWest in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded SkyWest from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Thursday, June 15th. Finally, Evercore ISI boosted their price objective on SkyWest from $38.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.00.
SkyWest Trading Down 1.6 %
SKYW opened at $44.38 on Tuesday. SkyWest, Inc. has a fifty-two week low of $14.76 and a fifty-two week high of $46.07. The firm has a market capitalization of $1.87 billion, a PE ratio of -634.00, a P/E/G ratio of 8.13 and a beta of 1.93. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 0.91. The company’s 50-day moving average is $41.60 and its 200 day moving average is $31.44.
SkyWest (NASDAQ:SKYW – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.81. SkyWest had a positive return on equity of 1.82% and a negative net margin of 0.19%. The firm had revenue of $725.64 million during the quarter, compared to analyst estimates of $707.75 million. During the same period in the previous year, the company posted $1.07 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, research analysts predict that SkyWest, Inc. will post 0.36 earnings per share for the current fiscal year.
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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