Wade Steel Sells 20,629 Shares of SkyWest (NASDAQ:SKYW) Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade Steel sold 20,629 shares of the firm’s stock in a transaction on 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 sale, the insider owned 77,438 shares in the company, valued at $8,249,470.14. This represents a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

SkyWest Trading Down 4.3%

SKYW stock opened at $104.08 on Friday. The firm has a market cap of $4.21 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.73 and a beta of 1.65. The business’s 50 day moving average is $102.01 and its 200-day moving average is $103.74. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year 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.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 earnings per share. Equities analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Institutional Trading of SkyWest

Institutional investors have recently modified their holdings of the company. Transamerica Financial Advisors LLC grew its stake 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 worth $27,000 after acquiring an additional 197 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of SkyWest during the third quarter valued at approximately $38,000. Elevation Point Wealth Partners LLC bought a new position in SkyWest in the 2nd quarter valued at $40,000. Johnson Financial Group Inc. bought a new position in SkyWest in the 3rd quarter worth about $62,000. Finally, EverSource Wealth Advisors LLC grew its stake in SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SKYW has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research report on Monday, January 26th. Citigroup started coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price target on the stock. Wall Street Zen lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

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.