SkyWest (NASDAQ:SKYW) Downgraded to “Sell” at BidaskClub

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BidaskClub downgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a sell rating in a research report released on Thursday, September 20th.

Several other research firms have also recently commented on SKYW. ValuEngine upgraded shares of SkyWest from a hold rating to a buy rating in a research report on Saturday, July 28th. Imperial Capital upped their target price on shares of SkyWest from $60.00 to $63.00 and gave the stock an inline rating in a research report on Monday, July 30th. Zacks Investment Research raised shares of SkyWest from a sell rating to a hold rating and set a $69.00 price target for the company in a research note on Monday, July 30th. Finally, Cowen upped their price target on shares of SkyWest from $63.00 to $66.00 and gave the stock an outperform rating in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $63.60.

SKYW opened at $50.48 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 1.41. SkyWest has a 1-year low of $42.85 and a 1-year high of $65.80. The stock has a market capitalization of $3.07 billion, a PE ratio of 14.72 and a beta of 1.64.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.20. SkyWest had a net margin of 14.73% and a return on equity of 13.20%. The business had revenue of $805.50 million during the quarter, compared to the consensus estimate of $795.19 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts expect that SkyWest will post 4.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, September 27th. SkyWest’s dividend payout ratio is presently 11.66%.

In related news, CEO Russell A. Childs sold 22,074 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.79, for a total value of $1,319,804.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Terry Vais sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $64.43, for a total transaction of $103,088.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,455 shares of company stock valued at $6,468,863. Company insiders own 3.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Copper Rock Capital Partners LLC increased its stake in SkyWest by 25.6% in the 3rd quarter. Copper Rock Capital Partners LLC now owns 477,771 shares of the transportation company’s stock valued at $28,260,000 after buying an additional 97,401 shares during the period. United Services Automobile Association increased its stake in SkyWest by 63.0% in the 2nd quarter. United Services Automobile Association now owns 117,257 shares of the transportation company’s stock valued at $6,086,000 after buying an additional 45,314 shares during the period. Northern Trust Corp increased its stake in SkyWest by 9.3% in the 2nd quarter. Northern Trust Corp now owns 700,277 shares of the transportation company’s stock valued at $36,345,000 after buying an additional 59,416 shares during the period. Capital Fund Management S.A. acquired a new position in SkyWest in the 2nd quarter valued at approximately $618,000. Finally, Laurion Capital Management LP increased its stake in SkyWest by 106.1% in the 2nd quarter. Laurion Capital Management LP now owns 13,210 shares of the transportation company’s stock valued at $686,000 after buying an additional 6,800 shares during the period. Hedge funds and other institutional investors own 89.15% of the company’s stock.

SkyWest Company Profile

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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