SkyWest, Inc. (NASDAQ:SKYW) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been assigned an average recommendation of “Moderate Buy” from the four brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $107.25.

Several brokerages have issued reports on SKYW. TD Cowen boosted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. Finally, Raymond James boosted their target price on shares of SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, December 30th.

Insider Activity

In related news, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total value of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares in the company, valued at $38,964,115.56. This represents a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total value of $1,731,254.70. Following the transaction, the chief financial officer now owns 113,539 shares of the company’s stock, valued at $11,923,865.78. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

Several institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in SkyWest in the 3rd quarter worth about $31,000. NBC Securities Inc. grew its holdings in shares of SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of SkyWest by 47.1% in the third quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 437 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of SkyWest during the third quarter valued at approximately $158,000. Finally, Millburn Ridgefield Corp bought a new stake in SkyWest during the third quarter worth $168,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Trading Up 2.6 %

SKYW opened at $103.73 on Friday. SkyWest has a twelve month low of $48.28 and a twelve month high of $117.51. The company has a fifty day moving average of $106.76 and a 200-day moving average of $90.05. The stock has a market cap of $4.18 billion, a PE ratio of 17.73 and a beta of 1.98. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’s revenue was up 19.1% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. On average, sell-side analysts predict that SkyWest will post 7.16 EPS for the current year.

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.