SkyWest, Inc. (NASDAQ:SKYW) Receives $123.83 Consensus Price Target from Analysts

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $123.8333.

Several equities analysts have recently commented on SKYW shares. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research report on Monday, January 26th. TD Cowen cut their price objective on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Citigroup started coverage on SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st.

SkyWest Stock Up 4.1%

SKYW stock opened at $105.96 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $101.56 and a 200-day simple moving average of $104.47. The company has a market capitalization of $4.25 billion, a P/E ratio of 10.24, a PEG ratio of 0.71 and a beta of 1.65. SkyWest has a twelve month low of $74.70 and a twelve month high of $123.94.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 earnings per share. On average, equities research analysts predict that SkyWest will post 9.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the stock in a transaction on Thursday, December 11th. The shares were 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 of the company’s stock, valued at approximately $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SkyWest

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SkyWest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock valued at $2,061,000 after acquiring an additional 1,034 shares during the period. United Services Automobile Association bought a new position in shares of SkyWest in the first quarter worth $227,000. QRG Capital Management Inc. grew its stake in shares of SkyWest by 74.3% in the second quarter. QRG Capital Management Inc. now owns 19,628 shares of the transportation company’s stock worth $2,021,000 after purchasing an additional 8,366 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of SkyWest by 147.4% during the second quarter. KLP Kapitalforvaltning AS now owns 4,700 shares of the transportation company’s stock valued at $484,000 after purchasing an additional 2,800 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in shares of SkyWest by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock valued at $1,225,000 after purchasing an additional 106 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

About SkyWest

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.