SkyWest, Inc. (NASDAQ:SKYW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

SKYW has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Wall Street Zen lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Citigroup initiated coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 target price on the stock. TD Cowen lowered their target price on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research note on Monday, January 26th.

SkyWest Stock Up 1.6%

SKYW stock opened at $103.11 on Thursday. SkyWest has a 52 week low of $74.70 and a 52 week high of $123.94. The business has a 50-day simple moving average of $101.46 and a 200 day simple moving average of $104.59. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.13 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.68 and a beta of 1.65.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $993.12 million. During the same period in the prior year, the business earned $2.34 earnings per share. SkyWest’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that SkyWest will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the sale, the director owned 25,362 shares in the company, 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 filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKYW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of SkyWest by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock valued at $2,061,000 after acquiring an additional 1,034 shares in the last quarter. United Services Automobile Association bought a new position in SkyWest in the first quarter valued at about $227,000. QRG Capital Management Inc. raised its position in SkyWest by 74.3% in the second quarter. QRG Capital Management Inc. now owns 19,628 shares of the transportation company’s stock valued at $2,021,000 after purchasing an additional 8,366 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of SkyWest by 147.4% during the second quarter. KLP Kapitalforvaltning AS now owns 4,700 shares of the transportation company’s stock valued at $484,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in shares of SkyWest by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock worth $1,225,000 after purchasing an additional 106 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Company Profile

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.