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

SkyWest, Inc. (NASDAQ:SKYW) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $122.00.

A number of research analysts have weighed in on the stock. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research note on Monday, January 26th. Zacks Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Citigroup cut their price objective on shares of SkyWest from $112.00 to $101.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Finally, TD Cowen lowered their target price on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a report on Monday, January 26th.

SkyWest Stock Down 2.3%

Shares of NASDAQ:SKYW traded down $2.13 during trading on Friday, hitting $91.85. 47,290 shares of the company’s stock traded hands, compared to its average volume of 314,625. SkyWest has a 52 week low of $74.70 and a 52 week high of $123.94. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The company has a 50-day moving average price of $99.06 and a 200-day moving average price of $100.27.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. SkyWest’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that SkyWest will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling at SkyWest

In related news, insider Wade J. Steel sold 20,629 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the completion of the transaction, the insider directly owned 77,438 shares in the company, valued at approximately $8,249,470.14. This trade represents a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

Several institutional investors have recently bought and sold shares of SKYW. Caitong International Asset Management Co. Ltd boosted its position in SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after acquiring an additional 216 shares during the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of SkyWest in the third quarter worth $38,000. Elevation Point Wealth Partners LLC bought a new stake in shares of SkyWest in the second quarter worth $40,000. Finally, Johnson Financial Group Inc. acquired a new position in SkyWest during the third quarter worth $62,000. Institutional investors own 81.30% of the company’s stock.

About SkyWest

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.