SkyWest (NASDAQ:SKYW) Price Target Lowered to $101.00 at Citigroup

SkyWest (NASDAQ:SKYW) had its price target trimmed by Citigroup from $112.00 to $101.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 price target on SkyWest in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Finally, TD Cowen dropped their price objective on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. One equities research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

SkyWest Price Performance

NASDAQ:SKYW opened at $87.89 on Friday. The stock has a market capitalization of $3.55 billion, a PE ratio of 8.49, a P/E/G ratio of 1.20 and a beta of 1.58. SkyWest has a 1-year low of $74.70 and a 1-year high of $123.94. The firm has a fifty day simple moving average of $99.47 and a 200 day simple moving average of $101.04. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). SkyWest had a return on equity of 16.35% and a net margin of 10.56%.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 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that SkyWest will post 9.01 EPS for the current fiscal year.

Insider Activity at SkyWest

In related news, insider Wade J. Steel sold 20,629 shares of SkyWest stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the completion of the sale, the insider owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. boosted 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 worth $118,981,000 after acquiring an additional 255,408 shares during the period. Allianz Asset Management GmbH grew its position in shares of SkyWest by 214.5% in the third quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock valued at $25,332,000 after purchasing an additional 171,704 shares during the last quarter. Millennium Management LLC increased its stake in shares of SkyWest by 90.6% during the third 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 during the period. Vanguard Group Inc. increased its stake in shares of SkyWest by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock worth $498,685,000 after purchasing an additional 152,863 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in SkyWest during the 4th quarter worth approximately $13,825,000. 81.30% of the stock is owned by 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.