Brokerages Set SkyWest, Inc. (NASDAQ:SKYW) PT at $119.40

SkyWest, Inc. (NASDAQ:SKYW) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned 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 $121.00.

SKYW has been the topic of several research reports. TD Cowen lifted their price target on shares of SkyWest from $115.00 to $123.00 and gave the company a “buy” rating in a report on Monday, August 24th. The Goldman Sachs Group downgraded shares of SkyWest from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $126.00 to $115.00 in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Finally, Citigroup boosted their target price 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.

Insider Transactions at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 50,500 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $113.21, for a total value of $5,717,105.00. Following the completion of the transaction, the chief executive officer owned 346,190 shares of the company’s stock, valued at $39,192,169.90. This represents a 12.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Greg Wooley sold 17,726 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $108.55, for a total value of $1,924,157.30. Following the completion of the transaction, the vice president directly owned 53,323 shares of the company’s stock, valued at approximately $5,788,211.65. The trade was a 24.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 115,226 shares of company stock worth $12,855,192. Insiders own 1.50% of the company’s stock.

Institutional Trading of SkyWest

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of SkyWest during the second quarter worth $682,530,000. Vanguard Group Inc. boosted its position 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. Dimensional Fund Advisors LP grew its stake in shares of SkyWest by 0.8% in the 1st 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 during the period. State Street Corp grew its stake in SkyWest by 0.5% in the fourth quarter. State Street Corp now owns 1,517,700 shares of the transportation company’s stock valued at $152,392,000 after acquiring an additional 8,117 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in SkyWest by 27.5% in 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 acquiring an additional 255,408 shares during the period. 81.30% of the stock is currently owned by institutional investors.

SkyWest Price Performance

Shares of SKYW stock opened at $98.87 on Monday. The business has a fifty day simple moving average of $102.37 and a 200 day simple moving average of $95.54. The company has a market cap of $3.84 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.43 and a beta of 1.46. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 0.59. SkyWest has a twelve month low of $77.89 and a twelve month high of $123.67.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 EPS. On average, sell-side analysts forecast that SkyWest will post 10.64 EPS for the current fiscal year.

SkyWest declared that its Board of Directors has approved a share buyback plan on Thursday, July 23rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.