Brokerages Set SkyWest, Inc. (NASDAQ:SKYW) PT at $123.83

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $123.8333.

A number of equities research analysts have weighed in on SKYW shares. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Citigroup initiated coverage on shares of SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price on the stock. Finally, TD Cowen cut their target price on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th.

Insider Buying and Selling at SkyWest

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the sale, the director directly owned 25,362 shares in the company, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total value of $2,197,607.37. Following the completion of the sale, the insider directly owned 77,438 shares of the company’s stock, valued at $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,725 shares of company stock valued at $3,493,834. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its holdings in shares of SkyWest by 27.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after acquiring an additional 255,408 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of SkyWest by 214.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock worth $25,332,000 after purchasing an additional 171,704 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of SkyWest by 90.6% in the 3rd quarter. Millennium Management LLC now owns 351,149 shares of the transportation company’s stock worth $35,333,000 after purchasing an additional 166,926 shares in the last quarter. Vanguard Group Inc. grew its position in SkyWest by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock valued at $498,685,000 after purchasing an additional 152,863 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in SkyWest in the 4th quarter valued at $13,825,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Trading Down 3.5%

SKYW opened at $92.03 on Monday. SkyWest has a twelve month low of $74.70 and a twelve month high of $123.94. The company has a fifty day moving average of $101.50 and a 200-day moving average of $102.90. The stock has a market cap of $3.72 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 0.61 and a beta of 1.58. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $993.12 million. During the same period last year, the company posted $2.34 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts predict that SkyWest will post 9.01 EPS for the current year.

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.