Cetera Investment Advisers Increases Stake in SkyWest, Inc. $SKYW

Cetera Investment Advisers grew its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,202 shares of the transportation company’s stock after buying an additional 1,200 shares during the quarter. Cetera Investment Advisers owned 0.07% of SkyWest worth $2,801,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of SkyWest by 8.3% in the first quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock worth $131,572,000 after buying an additional 115,619 shares during the period. Geode Capital Management LLC grew its holdings in SkyWest by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,009,759 shares of the transportation company’s stock worth $103,992,000 after acquiring an additional 19,521 shares during the last quarter. SW Investment Management LLC increased its position in shares of SkyWest by 5.9% in the second quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock valued at $92,673,000 after acquiring an additional 50,000 shares during the period. Invesco Ltd. raised its stake in shares of SkyWest by 4.0% during the first quarter. Invesco Ltd. now owns 564,732 shares of the transportation company’s stock valued at $49,341,000 after acquiring an additional 21,723 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of SkyWest during the first quarter worth about $37,474,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SKYW opened at $101.22 on Friday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.95 and a beta of 1.86. The business’s fifty day simple moving average is $99.18 and its two-hundred day simple moving average is $105.10. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $2.16 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of SkyWest in a research report on Friday, October 31st. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cantor Fitzgerald set a $132.00 target price on shares of SkyWest in a research note on Friday, October 31st. Finally, Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, SkyWest presently has an average rating of “Buy” and an average price target of $130.20.

SkyWest 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.