SkyWest, Inc. (NASDAQ:SKYW) Receives $62.25 Average PT from Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have earned an average recommendation of “Moderate Buy” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $62.25.

A number of equities research analysts have recently issued reports on the company. 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 research note on Friday, February 2nd. Raymond James upped their target price on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $68.00 in a research note on Monday, February 5th. Finally, Evercore ISI upped their target price on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th.

SkyWest Price Performance

NASDAQ:SKYW opened at $73.66 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.90. The stock’s 50-day simple moving average is $67.02 and its 200 day simple moving average is $55.00. The company has a market cap of $2.97 billion, a P/E ratio of 84.67 and a beta of 1.95. SkyWest has a 52-week low of $23.59 and a 52-week high of $79.21.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 25th. The transportation company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21. The business had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. SkyWest’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.45) earnings per share. As a group, sell-side analysts forecast that SkyWest will post 6.45 EPS for the current fiscal year.

Insider Transactions at SkyWest

In related news, Director James L. Welch sold 2,000 shares of the stock in a transaction 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 directly owns 56,067 shares in the company, valued at $3,740,790.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Trading of SkyWest

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in SkyWest during the fourth quarter valued at $26,000. GAMMA Investing LLC bought a new stake in SkyWest during the fourth quarter valued at $29,000. Strs Ohio bought a new stake in SkyWest during the fourth quarter valued at $36,000. Transcendent Capital Group LLC bought a new stake in SkyWest during the fourth quarter valued at $52,000. Finally, Salem Investment Counselors Inc. bought a new position in shares of SkyWest during the 4th quarter worth about $57,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.