BidaskClub upgraded shares of SkyWest (NASDAQ:SKYW) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
Several other analysts also recently commented on the stock. Imperial Capital reaffirmed an in-line rating and set a $58.00 price objective on shares of SkyWest in a research report on Friday, November 2nd. Raymond James raised their price objective on shares of SkyWest from $69.00 to $70.00 and gave the stock a strong-buy rating in a research report on Wednesday, October 31st. Deutsche Bank raised their price objective on shares of SkyWest from $70.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, October 31st. Evercore ISI raised shares of SkyWest from an in-line rating to an outperform rating and set a $65.00 price objective for the company in a research report on Wednesday, October 31st. Finally, Zacks Investment Research downgraded shares of SkyWest from a hold rating to a sell rating in a research report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $67.17.
NASDAQ:SKYW traded down $1.37 on Wednesday, reaching $56.60. 182,551 shares of the stock traded hands, compared to its average volume of 343,731. The company has a market capitalization of $3.01 billion, a PE ratio of 16.50 and a beta of 1.56. 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 has a 1-year low of $45.65 and a 1-year high of $65.80.
SkyWest (NASDAQ:SKYW) last released its earnings results on Tuesday, October 30th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $825.57 million. SkyWest had a net margin of 15.65% and a return on equity of 13.99%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Research analysts predict that SkyWest will post 5.09 EPS for the current year.
In related news, COO Terry Vais sold 1,600 shares of SkyWest stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $64.43, for a total value of $103,088.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in SkyWest during the 1st quarter valued at $262,000. Millennium Management LLC lifted its stake in SkyWest by 85.9% during the 1st quarter. Millennium Management LLC now owns 57,969 shares of the transportation company’s stock valued at $3,154,000 after acquiring an additional 26,790 shares in the last quarter. Legal & General Group Plc lifted its stake in SkyWest by 2.3% during the 1st quarter. Legal & General Group Plc now owns 96,052 shares of the transportation company’s stock valued at $5,210,000 after acquiring an additional 2,159 shares in the last quarter. Principal Financial Group Inc. lifted its stake in SkyWest by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 404,411 shares of the transportation company’s stock valued at $22,000,000 after acquiring an additional 11,114 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in SkyWest by 2.9% during the 1st quarter. Allianz Asset Management GmbH now owns 507,534 shares of the transportation company’s stock valued at $27,610,000 after acquiring an additional 14,119 shares in the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.
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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