Analysts Set SkyWest, Inc. (NASDAQ:SKYW) Price Target at $123.83

SkyWest, Inc. (NASDAQ:SKYW) has been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $123.8333.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research note on Monday, January 26th. TD Cowen lowered their target price on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a report on Monday, January 26th. Citigroup assumed coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price target for the company. Finally, Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th.

SkyWest Trading Down 0.4%

Shares of NASDAQ SKYW opened at $100.36 on Monday. SkyWest has a twelve month low of $74.70 and a twelve month high of $123.94. The firm has a market cap of $4.06 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.67 and a beta of 1.58. The business has a fifty day simple moving average of $101.87 and a two-hundred day simple moving average of $103.30. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $993.12 million. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Analysts expect that SkyWest will post 9.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 25,362 shares in the company, valued at $2,702,067.48. The trade was a 15.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wade J. Steel sold 20,629 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the completion of the sale, the insider owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. This trade represents a 21.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 32,725 shares of company stock valued at $3,493,834. Insiders own 2.00% of the company’s stock.

Institutional Trading of SkyWest

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its position in SkyWest by 0.8% during 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 grew its stake in shares of SkyWest by 0.4% during the second quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock worth $2,257,000 after acquiring an additional 95 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of SkyWest by 1.7% during the fourth quarter. Maryland State Retirement & Pension System now owns 5,901 shares of the transportation company’s stock worth $593,000 after acquiring an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of SkyWest by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,192 shares of the transportation company’s stock valued at $923,000 after acquiring an additional 100 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of SkyWest by 4.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock valued at $257,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

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.