SkyWest (NASDAQ:SKYW) Raised to Buy at Zacks Investment Research

SkyWest (NASDAQ:SKYW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, November 9th. The brokerage presently has a $52.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 2.36% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Deutsche Bank upped their price objective on shares of SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. BidaskClub lowered shares of SkyWest from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. ValuEngine lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a report on Monday, September 4th. Cowen upped their price objective on shares of SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, October 2nd. Finally, Imperial Capital upped their price objective on shares of SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $48.33.

Shares of SkyWest (NASDAQ:SKYW) opened at $50.80 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24. SkyWest has a 12-month low of $30.40 and a 12-month high of $51.85. The firm has a market cap of $2,592.13, a P/E ratio of 15.87 and a beta of 1.74.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.03. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. During the same period in the previous year, the business posted $0.90 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. equities analysts expect that SkyWest will post 3.32 earnings per share for the current year.

In other news, CEO Russell A. Childs sold 1,766 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total transaction of $83,390.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wade J. Steel sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total transaction of $211,500.00. The disclosure for this sale can be found here. Insiders sold 142,164 shares of company stock worth $6,890,473 over the last quarter. 3.50% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its holdings in SkyWest by 108.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,488 shares during the period. Riverhead Capital Management LLC raised its stake in shares of SkyWest by 81.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after buying an additional 1,862 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of SkyWest by 10.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock worth $156,000 after buying an additional 419 shares during the last quarter. Pitcairn Co. acquired a new position in shares of SkyWest during the 3rd quarter worth $205,000. Finally, Shelton Capital Management acquired a new position in SkyWest in the 3rd quarter valued at about $218,000. 90.94% of the stock is owned by institutional investors.

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SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.

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