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

SkyWest, Inc. (NASDAQ:SKYW) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $117.00.

A number of research firms have recently weighed in on SKYW. Weiss Ratings lowered SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. TD Cowen lowered their price target on SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Finally, Citigroup lowered their price target on SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th.

SkyWest Trading Up 0.1%

Shares of SKYW stock opened at $92.02 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $87.78 and a two-hundred day moving average price of $95.48. SkyWest has a 12-month low of $77.89 and a 12-month high of $123.94. The firm has a market cap of $3.65 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.47.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKYW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SkyWest by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock valued at $2,061,000 after purchasing an additional 1,034 shares during the last quarter. United Services Automobile Association bought a new position in SkyWest during the 1st quarter valued at approximately $227,000. M&T Bank Corp raised its position in SkyWest by 7.6% during the 2nd quarter. M&T Bank Corp now owns 2,825 shares of the transportation company’s stock valued at $290,000 after purchasing an additional 199 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares during the last quarter. Finally, First Trust Advisors LP raised its position in SkyWest by 8.8% during the 2nd quarter. First Trust Advisors LP now owns 85,577 shares of the transportation company’s stock valued at $8,812,000 after purchasing an additional 6,938 shares during the last quarter. 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.