Ifrah Financial Services Inc. bought a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, HoldingsChannel reports. The fund bought 3,622 shares of the transportation company’s stock, valued at approximately $213,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Quadrant L P CA purchased a new stake in SkyWest in the third quarter valued at approximately $150,000. Meeder Asset Management Inc. boosted its position in SkyWest by 403.2% in the second quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock valued at $187,000 after buying an additional 2,883 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in SkyWest in the third quarter valued at approximately $209,000. Burney Co. purchased a new stake in SkyWest in the second quarter valued at approximately $229,000. Finally, Jane Street Group LLC purchased a new stake in SkyWest in the first quarter valued at approximately $262,000. Hedge funds and other institutional investors own 89.72% of the company’s stock.
SkyWest stock opened at $57.72 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 1.15. SkyWest, Inc. has a 12 month low of $45.55 and a 12 month high of $65.80. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.83 and a beta of 1.56.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Tuesday, October 30th. The transportation company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. SkyWest had a return on equity of 13.99% and a net margin of 15.65%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $825.57 million. During the same quarter in the prior year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that SkyWest, Inc. will post 5.09 earnings per share for the current year.
In other SkyWest news, COO Terry Vais sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $64.43, for a total value of $103,088.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
A number of equities research analysts recently commented on the company. BidaskClub upgraded SkyWest from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. ValuEngine upgraded SkyWest from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Imperial Capital upped their target price on SkyWest from $60.00 to $63.00 and gave the company an “inline” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded SkyWest from a “sell” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Monday, July 30th. Finally, Deutsche Bank upped their target price on SkyWest from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $67.17.
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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