SkyWest (SKYW) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a strong-buy rating in a research note released on Thursday. Zacks Investment Research currently has $57.00 price target on the transportation company’s stock.

According to Zacks, “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. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its nearly 17,000 employees. “

A number of other equities research analysts have also issued reports on the company. Deutsche Bank increased their price target on SkyWest from $47.00 to $55.00 and gave the company a buy rating in a research report on Thursday, October 26th. Cowen increased their price target on SkyWest from $44.00 to $52.00 and gave the company an outperform rating in a research report on Monday, October 2nd. BidaskClub lowered SkyWest from a strong-buy rating to a buy rating in a research report on Friday, December 15th. Imperial Capital raised their target price on SkyWest from $38.00 to $47.00 and gave the stock an in-line rating in a research report on Tuesday, October 31st. Finally, ValuEngine raised SkyWest from a buy rating to a strong-buy rating in a research report on Monday, September 18th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $52.20.

SkyWest (NASDAQ SKYW) traded up $1.50 during mid-day trading on Thursday, reaching $54.75. 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 $2,840.00, a P/E ratio of -21.06 and a beta of 1.77. SkyWest has a 12-month low of $30.40 and a 12-month high of $55.15.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. The company had revenue of $831.93 million for the quarter, compared to analyst estimates of $817.43 million. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. SkyWest’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. equities research analysts predict that SkyWest will post 3.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 29th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, December 28th. SkyWest’s dividend payout ratio (DPR) is presently -12.31%.

In other news, insider Wade J. Steel sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total transaction of $211,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael B. Thompson sold 1,476 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $51.45, for a total value of $75,940.20. The disclosure for this sale can be found here. Insiders have sold a total of 154,239 shares of company stock worth $7,512,577 in the last three months. Corporate insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SKYW. SG Americas Securities LLC raised its position in shares of SkyWest by 1.5% during the 2nd quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock worth $325,000 after acquiring an additional 133 shares in the last quarter. Legal & General Group Plc increased 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 buying an additional 7,821 shares during the period. Oppenheimer Asset Management Inc. increased 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 buying an additional 1,488 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in SkyWest during the second quarter worth approximately $3,499,000. Finally, CIBC World Markets Inc. increased its position in SkyWest by 51.0% during the second quarter. CIBC World Markets Inc. now owns 40,103 shares of the transportation company’s stock worth $1,408,000 after buying an additional 13,547 shares during the period. 90.75% of the stock is currently owned by institutional investors and hedge funds.

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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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