Raymond James & Associates Sells 3,313 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Raymond James & Associates lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYWFree Report) by 37.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,650 shares of the transportation company’s stock after selling 3,313 shares during the quarter. Raymond James & Associates’ holdings in SkyWest were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC bought a new stake in SkyWest during the 2nd quarter valued at approximately $3,844,000. Dimensional Fund Advisors LP grew its position in shares of SkyWest by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,328,481 shares of the transportation company’s stock worth $135,536,000 after buying an additional 9,754 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of SkyWest during the 3rd quarter worth $201,000. SG Americas Securities LLC bought a new position in shares of SkyWest during the 3rd quarter worth $900,000. Finally, UniSuper Management Pty Ltd bought a new position in shares of SkyWest during the 2nd quarter worth $1,677,000. Institutional investors own 79.94% of the company’s stock.

SkyWest Price Performance

NASDAQ:SKYW opened at $59.57 on Wednesday. SkyWest, Inc. has a 52 week low of $17.84 and a 52 week high of $60.40. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $2.44 billion, a P/E ratio of 68.47 and a beta of 1.92. The stock’s fifty day moving average is $51.17 and its two-hundred day moving average is $45.44.

SkyWest (NASDAQ:SKYWGet Free Report) last posted its earnings results on Thursday, February 1st. The transportation company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.31. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The company had revenue of $751.80 million for the quarter, compared to the consensus estimate of $758.41 million. During the same quarter in the previous year, the business earned ($0.93) earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts expect that SkyWest, Inc. will post 5.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SKYW. Raymond James upped their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a report on Monday. TheStreet raised SkyWest from a “c” rating to a “b-” rating in a report on Friday. Finally, TD Cowen raised SkyWest from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $68.00 in a report on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

View Our Latest Report on SkyWest

SkyWest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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