SkyWest (NASDAQ:SKYW) Share Price Passes Above 200-Day Moving Average of $20.51

SkyWest, Inc. (NASDAQ:SKYW – Get Rating)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.51 and traded as high as $29.20. SkyWest shares last traded at $29.14, with a volume of 494,819 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on SKYW shares. TheStreet upgraded SkyWest from a “d+” rating to a “c-” rating in a report on Wednesday, April 19th. Raymond James upgraded SkyWest from an “underperform” rating to a “market perform” rating in a report on Monday, April 3rd. Finally, StockNews.com initiated coverage on SkyWest in a report on Thursday, May 18th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.75.

SkyWest Price Performance

The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.98 and a current ratio of 1.09. The firm has a market capitalization of $1.29 billion, a P/E ratio of 44.83 and a beta of 1.88. The company has a 50-day moving average price of $24.02 and a 200-day moving average price of $20.51.

SkyWest (NASDAQ:SKYW – Get Rating) last released its earnings results on Thursday, April 27th. The transportation company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.09. SkyWest had a return on equity of 3.44% and a net margin of 1.12%. The business had revenue of $691.83 million for the quarter, compared to the consensus estimate of $673.84 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. SkyWest’s quarterly revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts predict that SkyWest, Inc. will post -1.69 earnings per share for the current year.

Hedge Funds Weigh In On SkyWest

A number of large investors have recently modified their holdings of the company. Ziegler Capital Management LLC raised its position in SkyWest by 1.0% in the 1st quarter. Ziegler Capital Management LLC now owns 40,988 shares of the transportation company’s stock valued at $909,000 after buying an additional 401 shares during the last quarter. Cerity Partners LLC purchased a new stake in SkyWest in the 1st quarter valued at $342,000. Great West Life Assurance Co. Can raised its position in SkyWest by 1.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 43,153 shares of the transportation company’s stock valued at $1,277,000 after buying an additional 556 shares during the last quarter. SummerHaven Investment Management LLC raised its position in SkyWest by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 35,867 shares of the transportation company’s stock valued at $592,000 after buying an additional 629 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in SkyWest by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 17,052 shares of the transportation company’s stock valued at $282,000 after buying an additional 803 shares during the last quarter. 80.82% of the stock is currently owned by institutional investors.

SkyWest Company Profile

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SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.