SkyWest, Inc. (NASDAQ:SKYW) Given Consensus Recommendation of “Moderate Buy” by Analysts

SkyWest, Inc. (NASDAQ:SKYW) has been assigned a consensus recommendation of “Moderate Buy” from the three ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $76.67.

Several research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. TD Cowen raised their price objective on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th.

SkyWest Stock Down 1.5 %

SkyWest stock opened at $76.78 on Friday. The stock has a market cap of $3.09 billion, a PE ratio of 27.72 and a beta of 1.92. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The stock’s fifty day moving average is $74.19 and its two-hundred day moving average is $63.27. SkyWest has a 1-year low of $36.91 and a 1-year high of $84.58.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 25th. The transportation company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.21. The firm had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $800.07 million. SkyWest had a return on equity of 5.45% and a net margin of 3.83%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.45) earnings per share. On average, sell-side analysts expect that SkyWest will post 6.83 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert J. Simmons sold 8,890 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $75.00, for a total transaction of $666,750.00. Following the completion of the sale, the chief financial officer now owns 130,024 shares in the company, valued at approximately $9,751,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other SkyWest news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $79.08, for a total value of $158,160.00. Following the transaction, the director now directly owns 46,462 shares in the company, valued at approximately $3,674,214.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert J. Simmons sold 8,890 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $75.00, for a total value of $666,750.00. Following the sale, the chief financial officer now owns 130,024 shares of the company’s stock, valued at approximately $9,751,800. The disclosure for this sale can be found here. Insiders have sold 94,290 shares of company stock valued at $7,282,611 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SkyWest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of SkyWest by 8.0% in the 3rd 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 period. Quadrant Capital Group LLC lifted its position in SkyWest by 22.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 381 shares during the period. Texas Permanent School Fund Corp boosted its holdings in SkyWest by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,834 shares of the transportation company’s stock valued at $2,475,000 after purchasing an additional 482 shares in the last quarter. Quest Partners LLC acquired a new position in SkyWest during the 4th quarter worth approximately $26,000. Finally, GAMMA Investing LLC purchased a new position in shares of SkyWest during the 4th quarter worth approximately $29,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

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.