SkyWest (NASDAQ:SKYW) Price Target Lowered to $122.00 at TD Cowen

SkyWest (NASDAQ:SKYW) had its price objective reduced by TD Cowen from $132.00 to $122.00 in a report published on Monday, Marketbeat.com reports. They currently have a buy rating on the transportation company’s stock.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Thursday. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup assumed coverage on SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective on the stock. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.83.

SkyWest Price Performance

NASDAQ SKYW opened at $100.67 on Monday. SkyWest has a fifty-two week low of $74.70 and a fifty-two week high of $135.57. The stock’s 50-day moving average is $100.92 and its two-hundred day moving average is $105.16. The firm has a market cap of $4.04 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts anticipate that SkyWest will post 9.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the sale, the director directly owned 25,362 shares in the company, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SkyWest

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in shares of SkyWest by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock valued at $1,150,000 after buying an additional 87 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in shares of SkyWest by 0.4% during the 2nd quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock valued at $2,257,000 after acquiring an additional 95 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in SkyWest by 4.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock valued at $257,000 after acquiring an additional 100 shares during the period. Maryland State Retirement & Pension System raised its position in SkyWest by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock worth $1,225,000 after purchasing an additional 106 shares in the last quarter. Finally, CWM LLC raised its position in SkyWest by 1.7% in the fourth quarter. CWM LLC now owns 6,601 shares of the transportation company’s stock worth $663,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.