SkyWest (NASDAQ:SKYW) Hits New 52-Week High at $71.50

SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week high on Monday . The stock traded as high as $71.50 and last traded at $71.46, with a volume of 242129 shares trading hands. The stock had previously closed at $69.13.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SKYW. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $68.00 in a research report on Monday, February 5th. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Evercore ISI boosted their target price on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TheStreet raised SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. Finally, Raymond James raised their price target on SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

SkyWest Trading Up 4.1 %

The firm has a fifty day simple moving average of $66.20 and a two-hundred day simple moving average of $54.52. The stock has a market cap of $3.00 billion, a PE ratio of 85.41 and a beta of 1.95. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 1.21.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.31. The firm had revenue of $751.80 million for the quarter, compared to analysts’ expectations of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.93) EPS. As a group, equities analysts expect that SkyWest, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $133,440.00. Following the completion of the sale, the director now owns 56,067 shares in the company, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of SkyWest

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in SkyWest in the 4th quarter worth approximately $26,000. GAMMA Investing LLC purchased a new stake in SkyWest during the 4th quarter valued at about $29,000. Strs Ohio purchased a new stake in SkyWest during the 4th quarter valued at about $36,000. Transcendent Capital Group LLC purchased a new stake in SkyWest during the 4th quarter valued at about $52,000. Finally, Salem Investment Counselors Inc. purchased a new stake in SkyWest during the 4th quarter valued at about $57,000. Institutional investors own 81.30% 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.