SkyWest (NASDAQ:SKYW) Price Target Cut to $98.00 by Analysts at TD Cowen

SkyWest (NASDAQ:SKYW) had its target price decreased by TD Cowen from $106.00 to $98.00 in a research note released on Monday, Marketbeat reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Several other research firms also recently commented on SKYW. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Citigroup reduced their price objective on SkyWest from $112.00 to $101.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Finally, Cantor Fitzgerald set a $122.00 price objective on SkyWest in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.20.

SkyWest Trading Down 3.0%

SKYW opened at $83.53 on Monday. The stock’s fifty day moving average is $95.14 and its two-hundred day moving average is $98.63. The company has a market capitalization of $3.36 billion, a P/E ratio of 8.01, a PEG ratio of 1.21 and a beta of 1.63. SkyWest has a 52 week low of $82.29 and a 52 week high of $123.94. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.66.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.15 by $0.35. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.SkyWest’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. Analysts forecast that SkyWest will post 10.93 earnings per share for the current year.

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 20,629 shares of SkyWest stock in a transaction dated Tuesday, February 24th. The stock was 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. The trade was a 21.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of SkyWest by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock valued at $498,685,000 after buying an additional 152,863 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of SkyWest by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,508,655 shares of the transportation company’s stock valued at $251,895,000 after buying an additional 22,110 shares during the period. American Century Companies Inc. lifted its holdings in shares of SkyWest by 3.0% in the 3rd quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock valued at $162,209,000 after buying an additional 46,744 shares during the period. State Street Corp lifted its holdings in shares of SkyWest by 0.5% in the 4th quarter. State Street Corp now owns 1,517,700 shares of the transportation company’s stock valued at $152,392,000 after buying an additional 8,117 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of SkyWest by 27.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after buying an additional 255,408 shares during the period. 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.