SkyWest (SKYW) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of SkyWest (NASDAQ:SKYW) from a buy rating to a hold rating in a report released on Wednesday.

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 brokerages also recently weighed in on SKYW. 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. Imperial Capital boosted their target price on shares of SkyWest from $47.00 to $55.00 and gave the stock an in-line rating in a report on Tuesday, February 6th. ValuEngine upgraded shares of SkyWest from a buy rating to a strong-buy rating in a report on Sunday, December 31st. BidaskClub downgraded shares of SkyWest from a strong-buy rating to a buy rating in a report on Friday, December 15th. Finally, Raymond James Financial boosted their target price on shares of SkyWest from $62.00 to $65.00 and gave the stock a strong-buy rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $56.00.

Shares of SkyWest (SKYW) opened at $56.25 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.36. The company has a market cap of $2,908.37, a price-to-earnings ratio of 6.97 and a beta of 1.78. SkyWest has a 1 year low of $30.40 and a 1 year high of $58.15.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 30th will be issued a $0.10 dividend. This is an increase from SkyWest’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, March 28th. SkyWest’s payout ratio is currently 3.97%.

In other SkyWest news, COO Terry Vais sold 12,075 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $51.52, for a total value of $622,104.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.50% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in SKYW. Voya Investment Management LLC increased its holdings in shares of SkyWest by 16.0% in the second quarter. Voya Investment Management LLC now owns 23,119 shares of the transportation company’s stock valued at $811,000 after purchasing an additional 3,196 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of SkyWest by 1.2% in the second quarter. Stifel Financial Corp now owns 18,898 shares of the transportation company’s stock valued at $662,000 after purchasing an additional 224 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of SkyWest by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 39,390 shares of the transportation company’s stock valued at $1,383,000 after purchasing an additional 712 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of SkyWest in the second quarter valued at $708,000. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of SkyWest by 10.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 419 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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