TD Cowen Lowers SkyWest (NASDAQ:SKYW) Price Target to $106.00

SkyWest (NASDAQ:SKYW) had its price objective cut by TD Cowen from $122.00 to $106.00 in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential upside of 6.75% from the company’s previous close.

A number of other equities analysts have also recently issued reports on SKYW. Citigroup reduced their price objective on shares of SkyWest from $112.00 to $101.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, SkyWest has an average rating of “Moderate Buy” and an average price target of $119.80.

SkyWest Price Performance

Shares of SKYW stock opened at $99.30 on Friday. SkyWest has a 52-week low of $82.14 and a 52-week high of $123.94. The stock has a market cap of $3.99 billion, a PE ratio of 9.59, a PEG ratio of 1.29 and a beta of 1.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 0.65. The firm’s 50 day moving average price is $96.82 and its two-hundred day moving average price is $99.03.

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

Insiders Place Their Bets

In other SkyWest news, insider Wade J. Steel sold 20,629 shares of the stock in a transaction 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 sale, the insider directly owned 77,438 shares in the company, valued at approximately $8,249,470.14. This trade represents a 21.04% 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. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in SkyWest by 480.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Transamerica Financial Advisors LLC raised its holdings in SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares during the period. Salomon & Ludwin LLC acquired a new stake in SkyWest in the third quarter worth $38,000. Johnson Financial Group Inc. acquired a new stake in SkyWest in the third quarter worth $62,000. Finally, EverSource Wealth Advisors LLC raised its holdings in SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares during the period. 81.30% of the stock is currently 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.