SkyWest (NASDAQ:SKYW) Reaches New 1-Year Low – Time to Sell?

SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week low during trading on Tuesday . The company traded as low as $79.25 and last traded at $79.93, with a volume of 19585 shares. The stock had previously closed at $81.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SKYW shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. TD Cowen lowered their price target on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a report on Monday, April 27th. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a report on Monday, January 26th. Finally, Citigroup lowered their price target on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, SkyWest currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

SkyWest Trading Down 3.4%

The business’s fifty day moving average is $90.14 and its 200-day moving average is $97.18. The stock has a market capitalization of $3.13 billion, a PE ratio of 7.59, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $993.06 million. During the same period in the previous year, the firm earned $2.42 earnings per share. SkyWest’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that SkyWest, Inc. will post 10.69 EPS for the current fiscal year.

Insider Transactions at SkyWest

In related news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total value of $2,197,607.37. Following the completion of the sale, the insider directly owned 77,438 shares in the company, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On SkyWest

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in SkyWest by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock valued at $498,685,000 after purchasing an additional 152,863 shares during the period. Dimensional Fund Advisors LP lifted its position in SkyWest by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,529,333 shares of the transportation company’s stock valued at $232,260,000 after buying an additional 20,678 shares in the last quarter. American Century Companies Inc. lifted its position in SkyWest by 3.0% during the third quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock valued at $162,209,000 after buying an additional 46,744 shares in the last quarter. State Street Corp lifted its position in SkyWest by 0.5% during the fourth quarter. State Street Corp now owns 1,517,700 shares of the transportation company’s stock valued at $152,392,000 after buying an additional 8,117 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in SkyWest by 27.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after buying an additional 255,408 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

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.