SkyWest, Inc. (NASDAQ:SKYW) Receives $56.00 Average Price Target from Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been assigned a consensus recommendation of “Moderate Buy” from the four ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $56.00.

A number of equities analysts recently commented on SKYW shares. Raymond James increased their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. Finally, TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $68.00 in a report on Monday, February 5th.

SkyWest Price Performance

Shares of SKYW opened at $69.08 on Tuesday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 79.40 and a beta of 1.95. SkyWest has a fifty-two week low of $20.60 and a fifty-two week high of $70.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. The business’s 50-day moving average is $61.43 and its 200-day moving average is $50.99.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.31. The company had revenue of $751.80 million for the quarter, compared to the consensus estimate of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.93) EPS. Equities research analysts expect that SkyWest will post 6.39 EPS for the current fiscal year.

Insider Buying and Selling at SkyWest

In other SkyWest news, Director James L. Welch sold 2,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the transaction, the director now owns 56,067 shares in the company, valued at $3,740,790.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning grew its stake in shares of SkyWest by 0.4% in the fourth quarter. Creative Planning now owns 58,274 shares of the transportation company’s stock worth $3,042,000 after acquiring an additional 207 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of SkyWest by 8.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the transportation company’s stock worth $165,000 after acquiring an additional 291 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of SkyWest by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,851 shares of the transportation company’s stock worth $120,000 after acquiring an additional 362 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of SkyWest by 22.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company’s stock worth $110,000 after acquiring an additional 381 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of SkyWest in the fourth quarter worth $26,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

About SkyWest

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.