SkyWest (NASDAQ:SKYW) Given New $122.00 Price Target at TD Cowen

SkyWest (NASDAQ:SKYW) had its price objective dropped by research analysts at TD Cowen from $132.00 to $122.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 20.01% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Citigroup assumed coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective for the company. Cantor Fitzgerald set a $132.00 target price on SkyWest in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday. Finally, Wall Street Zen downgraded SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.50.

SkyWest Stock Performance

SKYW stock opened at $101.66 on Monday. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.70 and a beta of 1.66. The firm has a 50-day simple moving average of $100.76 and a two-hundred day simple moving average of $105.25. SkyWest has a one year low of $74.70 and a one year high of $135.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.61 and a current ratio of 0.71.

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

Insider Buying and Selling at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the completion of the transaction, the director owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On SkyWest

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. raised its stake in shares of SkyWest by 261.8% during the 4th quarter. Assetmark Inc. now owns 76,229 shares of the transportation company’s stock valued at $7,654,000 after buying an additional 55,162 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in SkyWest by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 22,878 shares of the transportation company’s stock worth $2,296,000 after acquiring an additional 145 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in SkyWest by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 148,225 shares of the transportation company’s stock valued at $14,883,000 after acquiring an additional 12,635 shares during the period. Blue Trust Inc. lifted its stake in shares of SkyWest by 17.6% in the 4th quarter. Blue Trust Inc. now owns 1,372 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 205 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of SkyWest by 22.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 176,882 shares of the transportation company’s stock worth $17,900,000 after acquiring an additional 31,904 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.