SkyWest (NASDAQ:SKYW) Reaches New 1-Year Low – Time to Sell?

Shares of SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week low on Tuesday . The company traded as low as $79.25 and last traded at $79.93, with a volume of 19585 shares changing hands. The stock had previously closed at $81.79.

Analyst Ratings Changes

SKYW has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Finally, TD Cowen reduced their price target on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, SkyWest currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

SkyWest Trading Down 3.4%

The business’s 50-day moving average price is $90.14 and its 200 day moving average price is $97.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.51. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.17 and a beta of 1.48.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $993.06 million. During the same period in the previous year, the company posted $2.42 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that SkyWest, Inc. will post 10.69 earnings per share for the current fiscal year.

Insider Activity at SkyWest

In other news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction on 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 transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Trading of SkyWest

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in SkyWest by 14.4% in the first quarter. Bank of America Corp DE now owns 164,012 shares of the transportation company’s stock valued at $15,061,000 after acquiring an additional 20,667 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of SkyWest by 21.6% during the first quarter. Edgestream Partners L.P. now owns 62,858 shares of the transportation company’s stock worth $5,772,000 after purchasing an additional 11,186 shares during the last quarter. Amundi lifted its position in shares of SkyWest by 84.7% during the first quarter. Amundi now owns 8,952 shares of the transportation company’s stock worth $822,000 after purchasing an additional 4,105 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of SkyWest by 38.8% during the first quarter. California State Teachers Retirement System now owns 16,263 shares of the transportation company’s stock worth $1,493,000 after purchasing an additional 4,542 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of SkyWest by 2.0% during the first quarter. Royal Bank of Canada now owns 12,966 shares of the transportation company’s stock worth $1,191,000 after purchasing an additional 250 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

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.