SkyWest (SKYW) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $61.00 price objective 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. “

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A number of other equities research analysts have also issued reports on SKYW. BidaskClub lowered SkyWest from a strong-buy rating to a buy rating in a research report on Thursday, March 29th. Imperial Capital lifted their target price on SkyWest from $47.00 to $55.00 and gave the company an in-line rating in a research report on Tuesday, February 6th. Cowen reissued a buy rating and issued a $60.00 target price on shares of SkyWest in a research report on Tuesday, January 9th. ValuEngine raised SkyWest from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Finally, Raymond James Financial lifted their target price on SkyWest from $62.00 to $65.00 and gave the company a strong-buy rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. SkyWest has a consensus rating of Buy and a consensus target price of $56.67.

Shares of SkyWest stock opened at $54.75 on Thursday. SkyWest has a 52-week low of $30.40 and a 52-week high of $60.65. The company has a market capitalization of $2,856.03, a P/E ratio of 16.01 and a beta of 1.68. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 1.36.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Friday, March 30th were given a dividend of $0.10 per share. This is a positive change from SkyWest’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. SkyWest’s payout ratio is 11.66%.

In other SkyWest news, insider Eric Woodward sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $56.90, for a total transaction of $256,050.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Terry Vais sold 5,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $56.00, for a total value of $324,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,639 shares of company stock worth $2,781,474 in the last ninety days. Insiders own 3.50% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Allegis Investment Advisors LLC increased its position in shares of SkyWest by 10.6% during the 4th quarter. Allegis Investment Advisors LLC now owns 10,597 shares of the transportation company’s stock worth $563,000 after purchasing an additional 1,012 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of SkyWest by 6.2% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the transportation company’s stock worth $1,184,000 after acquiring an additional 1,300 shares during the period. Flinton Capital Management LLC boosted its stake in shares of SkyWest by 21.9% during the 4th quarter. Flinton Capital Management LLC now owns 7,378 shares of the transportation company’s stock worth $392,000 after acquiring an additional 1,326 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of SkyWest by 0.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 481,899 shares of the transportation company’s stock worth $25,589,000 after acquiring an additional 1,749 shares during the period. Finally, American International Group Inc. boosted its stake in shares of SkyWest by 5.7% during the 3rd quarter. American International Group Inc. now owns 40,325 shares of the transportation company’s stock worth $1,770,000 after acquiring an additional 2,190 shares during the period. 90.33% of the stock is currently owned by hedge funds and other 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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