TD Cowen Issues Pessimistic Forecast for SkyWest (NASDAQ:SKYW) Stock Price

SkyWest (NASDAQ:SKYW) had its price target decreased by research analysts at TD Cowen from $132.00 to $122.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price indicates a potential upside of 20.01% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Zacks Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Citigroup assumed coverage on shares of SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective for the company. Cantor Fitzgerald set a $132.00 target price on SkyWest in a research report on Friday, October 31st. Finally, Wall Street Zen cut SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.50.

SkyWest Price Performance

NASDAQ:SKYW opened at $101.66 on Monday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.70 and a beta of 1.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. The business has a 50 day simple moving average of $100.76 and a 200-day simple moving average of $105.25. SkyWest has a 1 year low of $74.70 and a 1 year high of $135.57.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.25. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.SkyWest’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. Equities analysts forecast that SkyWest will post 9.01 EPS for the current year.

Insider Buying and Selling at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the sale, the director directly owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On SkyWest

Several large investors have recently modified their holdings of the business. Allianz Asset Management GmbH lifted its position in shares of SkyWest by 214.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock worth $25,332,000 after purchasing an additional 171,704 shares during the period. Millennium Management LLC raised its stake in SkyWest by 90.6% in the third quarter. Millennium Management LLC now owns 351,149 shares of the transportation company’s stock worth $35,333,000 after buying an additional 166,926 shares in the last quarter. Owl Creek Asset Management L.P. purchased a new stake in SkyWest during the second quarter worth $9,856,000. JPMorgan Chase & Co. boosted its position in SkyWest by 39.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 298,255 shares of the transportation company’s stock valued at $30,011,000 after acquiring an additional 83,705 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in SkyWest during the 3rd quarter valued at $7,507,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.