SkyWest (SKYW) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of SkyWest (NASDAQ:SKYW) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other brokerages also recently weighed in on SKYW. Zacks Investment Research downgraded shares of SkyWest from a buy rating to a hold rating in a report on Tuesday, November 14th. ValuEngine upgraded shares of SkyWest from a buy rating to a strong-buy rating in a report on Monday, September 18th. Cowen boosted their target price on shares of SkyWest from $44.00 to $52.00 and gave the stock an outperform rating in a report on Monday, October 2nd. Imperial Capital boosted their target price on shares of SkyWest from $38.00 to $47.00 and gave the stock an in-line rating in a report on Tuesday, October 31st. Finally, Deutsche Bank boosted their target price on shares of SkyWest from $47.00 to $55.00 and gave the stock a buy rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. SkyWest presently has an average rating of Buy and an average target price of $52.20.

SkyWest (NASDAQ:SKYW) opened at $49.25 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61. The firm has a market cap of $2,550.00, a P/E ratio of -18.94 and a beta of 1.77. SkyWest has a one year low of $30.40 and a one year high of $54.85.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 29th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.65%. SkyWest’s dividend payout ratio is currently -12.31%.

In other news, insider Wade J. Steel sold 4,500 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total value of $211,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Russell A. Childs sold 1,766 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,239 shares of company stock worth $7,512,577. Corporate insiders own 3.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in SKYW. SG Americas Securities LLC lifted its position in SkyWest by 1.5% during the second quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock worth $325,000 after purchasing an additional 133 shares during the period. Legal & General Group Plc lifted its position in SkyWest by 9.1% during the second quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock worth $3,277,000 after purchasing an additional 7,821 shares during the period. BNP Paribas Arbitrage SA lifted its position in SkyWest by 55.3% during the second quarter. BNP Paribas Arbitrage SA now owns 21,649 shares of the transportation company’s stock worth $760,000 after purchasing an additional 7,712 shares during the period. Oppenheimer Asset Management Inc. lifted its position in SkyWest by 108.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,488 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in SkyWest during the second quarter worth about $3,499,000. 90.75% 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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