SkyWest (NASDAQ:SKYW) had its price objective hoisted by equities research analysts at Raymond James from $69.00 to $70.00 in a report released on Wednesday. The brokerage currently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ target price points to a potential upside of 24.18% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 1st. BidaskClub cut SkyWest from a “sell” rating to a “strong sell” rating in a research report on Friday, October 5th. ValuEngine cut SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Imperial Capital increased their price objective on SkyWest from $60.00 to $63.00 and gave the company an “inline” rating in a research report on Monday, July 30th. Finally, Cowen increased their price objective on SkyWest from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.00.
SKYW opened at $56.37 on Wednesday. SkyWest has a 1-year low of $45.55 and a 1-year high of $65.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.11 and a quick ratio of 0.97. The company has a market capitalization of $2.67 billion, a PE ratio of 16.43 and a beta of 1.63.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Tuesday, October 30th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. SkyWest had a return on equity of 14.24% and a net margin of 15.65%. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $825.57 million. During the same period in the prior year, the business earned $1.01 earnings per share. SkyWest’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that SkyWest will post 4.91 EPS for the current year.
In related news, CEO Russell A. Childs sold 22,074 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $59.79, for a total value of $1,319,804.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael B. Thompson sold 23,331 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $60.67, for a total value of $1,415,491.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,884 shares of company stock valued at $3,198,061. 3.50% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Mount Yale Investment Advisors LLC bought a new position in SkyWest in the first quarter worth $105,000. First Quadrant L P CA bought a new position in shares of SkyWest during the third quarter valued at $150,000. Meeder Asset Management Inc. lifted its holdings in shares of SkyWest by 403.2% during the second quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock valued at $187,000 after acquiring an additional 2,883 shares during the period. Everence Capital Management Inc. bought a new position in shares of SkyWest during the third quarter valued at $209,000. Finally, Burney Co. bought a new position in shares of SkyWest during the second quarter valued at $229,000. 89.71% of the stock is owned by hedge funds and other institutional investors.
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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