Citigroup Has Lowered Expectations for SkyWest (NASDAQ:SKYW) Stock Price

SkyWest (NASDAQ:SKYW) had its price target lowered by investment analysts at Citigroup from $112.00 to $101.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Citigroup’s price objective suggests a potential upside of 14.92% from the company’s previous close.

A number of other analysts have also commented on the stock. TD Cowen lowered their target price on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a report on Monday, January 26th. Cantor Fitzgerald set a $122.00 price target on SkyWest in a research report on Monday, January 26th. Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

SkyWest Stock Down 1.6%

Shares of NASDAQ SKYW opened at $87.89 on Friday. The firm has a market capitalization of $3.55 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.18 and a beta of 1.58. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. SkyWest has a 1 year low of $74.70 and a 1 year high of $123.94. The firm’s 50-day moving average is $99.47 and its 200-day moving average is $100.91.

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

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 20,629 shares of the company’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 value 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 represents a 21.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its stake in SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after buying an additional 216 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in SkyWest by 273.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after acquiring an additional 197 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in SkyWest in the third quarter valued at about $38,000. Elevation Point Wealth Partners LLC acquired a new position in SkyWest in the second quarter valued at about $40,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of SkyWest in the third quarter worth about $62,000. Institutional investors and hedge funds 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.