SkyWest, Inc. (NASDAQ:SKYW) Receives $122.00 Average PT from Analysts

Shares of SkyWest, Inc. (NASDAQ:SKYW) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $122.00.

A number of brokerages have recently issued reports on SKYW. 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 research note on Monday, January 26th. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Citigroup lowered their price objective on shares of SkyWest from $112.00 to $101.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Finally, Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a research report on Monday, January 26th.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $89.66 on Friday. SkyWest has a fifty-two week low of $74.70 and a fifty-two week high of $123.94. 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 company has a market cap of $3.60 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 1.21 and a beta of 1.58. The business’s 50 day moving average price is $98.86 and its 200-day moving average price is $100.02.

SkyWest (NASDAQ:SKYW) last posted 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 for the quarter, compared to analysts’ expectations of $993.12 million. During the same quarter in the previous year, the firm earned $2.34 EPS. SkyWest’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts expect that SkyWest will post 9.01 earnings per share for the current year.

Insider Transactions at SkyWest

In related news, insider Wade J. Steel sold 20,629 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the transaction, the insider owned 77,438 shares of the company’s stock, valued at $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 available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System grew its position in shares of SkyWest by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after buying an additional 87 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of SkyWest by 1.7% in the fourth quarter. Maryland State Retirement & Pension System now owns 5,901 shares of the transportation company’s stock valued at $593,000 after acquiring an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in SkyWest by 1.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,192 shares of the transportation company’s stock worth $923,000 after acquiring an additional 100 shares during the period. Canada Pension Plan Investment Board lifted its stake in SkyWest by 4.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock worth $257,000 after acquiring an additional 100 shares during the period. Finally, CWM LLC grew its holdings in SkyWest by 1.7% during the 4th quarter. CWM LLC now owns 6,601 shares of the transportation company’s stock worth $663,000 after acquiring an additional 108 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

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.