SkyWest (SKYW) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a buy rating in a research note released on Saturday, February 10th.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised SkyWest from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Thursday, November 9th. Cowen reissued a buy rating and set a $60.00 price target on shares of SkyWest in a report on Tuesday, January 9th. Deutsche Bank boosted their price target on SkyWest from $47.00 to $55.00 and gave the stock a buy rating in a report on Thursday, October 26th. Imperial Capital boosted their price target on SkyWest from $38.00 to $47.00 and gave the stock an in-line rating in a report on Tuesday, October 31st. Finally, Raymond James Financial boosted their price target on SkyWest from $62.00 to $65.00 and gave the stock a strong-buy rating in a report on Wednesday, January 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and four have given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $56.00.

SkyWest (NASDAQ SKYW) opened at $56.60 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.21 and a quick ratio of 1.09. SkyWest has a one year low of $30.40 and a one year high of $58.15. The firm has a market capitalization of $2,934.29, a P/E ratio of 16.55 and a beta of 1.78.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, February 1st. The transportation company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10. The company had revenue of $797.20 million during the quarter, compared to the consensus estimate of $778.13 million. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. equities research analysts predict that SkyWest will post 4.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Friday, March 30th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. This is a positive change from SkyWest’s previous quarterly dividend of $0.08. SkyWest’s payout ratio is currently 3.97%.

In other SkyWest news, COO Michael B. Thompson sold 1,476 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Terry Vais sold 12,075 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $51.52, for a total value of $622,104.00. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in shares of SkyWest by 1.6% in the 2nd quarter. Amalgamated Bank now owns 6,926 shares of the transportation company’s stock valued at $243,000 after buying an additional 110 shares during the last quarter. Stifel Financial Corp grew its position in shares of SkyWest by 1.2% in the 2nd quarter. Stifel Financial Corp now owns 18,898 shares of the transportation company’s stock valued at $662,000 after buying an additional 224 shares during the last quarter. Suntrust Banks Inc. grew its position in shares of SkyWest by 3.5% in the 2nd quarter. Suntrust Banks Inc. now owns 8,419 shares of the transportation company’s stock valued at $295,000 after buying an additional 286 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of SkyWest by 10.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after buying an additional 419 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of SkyWest by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,390 shares of the transportation company’s stock valued at $1,383,000 after buying an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

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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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