SkyWest (NASDAQ:SKYW) Price Target Raised to $132.00

SkyWest (NASDAQ:SKYW) had its price target boosted by TD Cowen from $124.00 to $132.00 in a research report report published on Friday, MarketBeat.com reports. They currently have a buy rating on the transportation company’s stock.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Cantor Fitzgerald set a $132.00 target price on SkyWest in a research report on Friday. Cowen restated a “buy” rating on shares of SkyWest in a research report on Friday. Finally, Evercore ISI boosted their price objective on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $130.20.

SkyWest Stock Performance

NASDAQ:SKYW opened at $100.48 on Friday. The business has a 50 day moving average of $105.72 and a 200 day moving average of $104.40. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.95 and a beta of 1.86. SkyWest has a 1-year low of $74.70 and a 1-year high of $135.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.25. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.SkyWest’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. On average, sell-side analysts predict that SkyWest will post 9.01 earnings per share for the current fiscal year.

Insider Activity at SkyWest

In related news, VP Greg Wooley sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total transaction of $233,660.00. Following the completion of the transaction, the vice president owned 66,737 shares in the company, valued at $7,796,883.71. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James L. Welch sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total value of $1,160,900.00. Following the transaction, the director owned 27,717 shares of the company’s stock, valued at approximately $3,217,666.53. This represents a 26.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,000 shares of company stock worth $4,412,120 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SkyWest

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC purchased a new stake in SkyWest in the third quarter worth $38,000. Elevation Point Wealth Partners LLC purchased a new stake in SkyWest in the second quarter worth $40,000. Fifth Third Bancorp grew its stake in SkyWest by 38.4% in the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after purchasing an additional 153 shares during the period. Blue Trust Inc. grew its stake in SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after purchasing an additional 469 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares during the period. Institutional investors own 81.30% of the company’s stock.

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.