SkyWest (NASDAQ:SKYW) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, January 6th.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, November 9th. Deutsche Bank raised their price objective on SkyWest from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Cowen raised their price objective on SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, October 2nd. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Imperial Capital raised their price objective on SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the company. SkyWest presently has an average rating of “Buy” and an average target price of $54.33.
Shares of SkyWest (NASDAQ:SKYW) traded up $0.80 during mid-day trading on Friday, hitting $56.55. The company had a trading volume of 247,221 shares, compared to its average volume of 293,457. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.24 and a quick ratio of 1.09. SkyWest has a 1-year low of $30.40 and a 1-year high of $57.35. The company has a market cap of $2,930.00, a P/E ratio of -21.75 and a beta of 1.77.
In other SkyWest news, Director Henry J. Eyring sold 1,500 shares of SkyWest stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $46.55, for a total value of $69,825.00. Following the transaction, the director now directly owns 36,362 shares of the company’s stock, valued at approximately $1,692,651.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Michael B. Thompson sold 5,868 shares of SkyWest stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $47.08, for a total value of $276,265.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,473 shares of company stock worth $7,287,511. Company insiders own 3.50% of the company’s stock.
Large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of SkyWest by 2.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 480,150 shares of the transportation company’s stock worth $21,079,000 after purchasing an additional 13,740 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of SkyWest by 9.1% during the 2nd 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 in the last quarter. Bank of Nova Scotia acquired a new stake in shares of SkyWest during the 2nd quarter worth approximately $708,000. Systematic Financial Management LP grew its holdings in shares of SkyWest by 31.1% during the 2nd quarter. Systematic Financial Management LP now owns 234,089 shares of the transportation company’s stock worth $8,217,000 after purchasing an additional 55,514 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of SkyWest by 45.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 142,553 shares of the transportation company’s stock worth $5,003,000 after purchasing an additional 44,246 shares in the last quarter. 90.74% of the stock is currently 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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