Louisiana State Employees Retirement System Purchases Shares of 20,500 SkyWest, Inc. (NASDAQ:SKYW)

Louisiana State Employees Retirement System purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,500 shares of the transportation company’s stock, valued at approximately $1,070,000.

Several other large investors have also recently added to or reduced their stakes in SKYW. SG Americas Securities LLC bought a new stake in shares of SkyWest in the 3rd quarter valued at approximately $900,000. Handelsbanken Fonder AB bought a new stake in shares of SkyWest in the 3rd quarter valued at approximately $201,000. Bailard Inc. bought a new stake in shares of SkyWest in the 3rd quarter valued at approximately $386,000. Allspring Global Investments Holdings LLC grew its position in SkyWest by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,851 shares of the transportation company’s stock worth $120,000 after acquiring an additional 362 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in SkyWest during the 3rd quarter worth approximately $294,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Stock Performance

SKYW opened at $74.31 on Wednesday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 85.41 and a beta of 1.95. The business’s 50-day moving average price is $66.20 and its two-hundred day moving average price is $54.52. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. SkyWest, Inc. has a 1 year low of $23.37 and a 1 year high of $74.52.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.31. The business had revenue of $751.80 million during the quarter, compared to analysts’ expectations of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. SkyWest’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.93) earnings per share. Equities analysts expect that SkyWest, Inc. will post 6.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other SkyWest news, Director James L. Welch sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.72, for a total transaction of $133,440.00. Following the completion of the sale, the director now directly owns 56,067 shares in the company, valued at $3,740,790.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TheStreet raised SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. Evercore ISI raised their price objective on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. TD Cowen raised SkyWest from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $68.00 in a research note on Monday, February 5th. Raymond James raised their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.25.

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.