SkyWest (NASDAQ:SKYW) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

SkyWest, Inc. (NASDAQ:SKYW) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $94.99 and traded as high as $101.05. SkyWest shares last traded at $99.33, with a volume of 400,725 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Citigroup raised their price target on shares of SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. The Goldman Sachs Group downgraded shares of SkyWest from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $115.00 in a report on Thursday. Finally, TD Cowen increased their target price on shares of SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SkyWest presently has an average rating of “Moderate Buy” and an average price target of $121.17.

SkyWest Trading Down 1.5%

The business’s 50 day simple moving average is $87.93 and its 200 day simple moving average is $94.86. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.43 and a beta of 1.45. 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 quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.35. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $993.06 million. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. During the same period in the previous year, the business earned $2.42 EPS. SkyWest’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts expect that SkyWest, Inc. will post 10.69 EPS for the current fiscal year.

Institutional Investors Weigh In On SkyWest

Institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its holdings in SkyWest by 27.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after acquiring an additional 255,408 shares in the last quarter. Millennium Management LLC lifted its position in shares of SkyWest by 90.6% during the 3rd quarter. Millennium Management LLC now owns 351,149 shares of the transportation company’s stock valued at $35,333,000 after acquiring an additional 166,926 shares during the period. Vanguard Group Inc. grew its holdings in shares of SkyWest by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock worth $498,685,000 after purchasing an additional 152,863 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of SkyWest during the 4th quarter worth $13,825,000. Finally, Invesco Ltd. grew its holdings in shares of SkyWest by 24.9% during the 4th quarter. Invesco Ltd. now owns 498,590 shares of the transportation company’s stock worth $50,063,000 after purchasing an additional 99,387 shares in 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.