SkyWest (NASDAQ:SKYW) Hits New 1-Year High – Still a Buy?

Shares of SkyWest, Inc. (NASDAQ:SKYW) reached a new 52-week high on Wednesday . The stock traded as high as $88.26 and last traded at $87.70, with a volume of 24622 shares traded. The stock had previously closed at $86.57.

SkyWest Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84. The business has a 50 day moving average price of $77.40 and a 200-day moving average price of $76.73. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 31.25 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.09. The business had revenue of $867.10 million during the quarter, compared to the consensus estimate of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts predict that SkyWest, Inc. will post 6.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of SkyWest by 259.8% during the third quarter. CWM LLC now owns 2,756 shares of the transportation company’s stock valued at $234,000 after purchasing an additional 1,990 shares during the period. GAMMA Investing LLC increased its position in SkyWest by 47.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock valued at $116,000 after buying an additional 437 shares in the last quarter. SW Investment Management LLC raised its stake in SkyWest by 13.2% during the 2nd quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after buying an additional 70,000 shares during the period. Cetera Investment Advisers boosted its holdings in SkyWest by 11.6% in the second quarter. Cetera Investment Advisers now owns 29,940 shares of the transportation company’s stock worth $2,457,000 after acquiring an additional 3,112 shares in the last quarter. Finally, Invst LLC bought a new position in SkyWest in the second quarter worth approximately $317,000. 81.30% of the stock is owned by institutional investors.

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.