Shares of SkyWest, Inc. (NASDAQ:SKYW – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $119.36 and last traded at $117.15, with a volume of 136873 shares. The stock had previously closed at $114.70.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James upped their target price on shares of SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SkyWest has an average rating of “Moderate Buy” and a consensus target price of $107.25.
View Our Latest Analysis on SkyWest
SkyWest Price Performance
SkyWest (NASDAQ:SKYW – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts forecast that SkyWest, Inc. will post 7.17 earnings per share for the current year.
Insider Transactions at SkyWest
In related news, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the transaction, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert J. Simmons sold 16,485 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock valued at $10,082,596 over the last quarter. Corporate insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in SkyWest by 0.7% in the third quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock valued at $81,697,000 after purchasing an additional 6,542 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in SkyWest by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after purchasing an additional 76,007 shares in the last quarter. SW Investment Management LLC lifted its stake in SkyWest by 13.2% in the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after acquiring an additional 70,000 shares during the last quarter. FMR LLC lifted its stake in SkyWest by 42.2% in the third quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock valued at $41,162,000 after acquiring an additional 143,661 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in SkyWest by 27.7% in the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after acquiring an additional 96,830 shares during the last quarter. 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.
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