SkyWest (NASDAQ:SKYW) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of SkyWest (NASDAQ:SKYW) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on SKYW. Wall Street Zen lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Cantor Fitzgerald set a $132.00 target price on SkyWest in a research report on Friday, October 31st. Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. TD Cowen lifted their target price on shares of SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Citigroup assumed coverage on shares of SkyWest in a research note on Thursday, December 4th. They set a “neutral” rating and a $112.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.17.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $101.90 on Tuesday. SkyWest has a 12 month low of $74.70 and a 12 month high of $135.57. The company has a market cap of $4.09 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.78 and a beta of 1.63. The business’s 50 day moving average is $99.73 and its two-hundred day moving average is $105.35. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.70.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.25. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $2.16 earnings per share. SkyWest’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts expect that SkyWest will post 9.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the completion of the sale, the director directly owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of SkyWest

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position in SkyWest by 3.0% in the 3rd quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock valued at $162,209,000 after acquiring an additional 46,744 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of SkyWest by 2.0% during the second quarter. Geode Capital Management LLC now owns 1,009,759 shares of the transportation company’s stock valued at $103,992,000 after purchasing an additional 19,521 shares during the last quarter. SW Investment Management LLC increased its holdings in shares of SkyWest by 5.9% in the second quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock valued at $92,673,000 after purchasing an additional 50,000 shares in the last quarter. Invesco Ltd. raised its position in SkyWest by 1.5% in the 2nd quarter. Invesco Ltd. now owns 573,074 shares of the transportation company’s stock worth $59,009,000 after purchasing an additional 8,342 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in SkyWest by 1.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 548,682 shares of the transportation company’s stock worth $55,208,000 after buying an additional 7,862 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.