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

Shares of SkyWest, Inc. (NASDAQ:SKYW) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $119.40.

SKYW has been the subject of several recent research reports. The Goldman Sachs Group cut SkyWest from a “buy” rating to a “neutral” rating and cut their price target for the company from $126.00 to $115.00 in a report on Thursday, July 2nd. Citigroup boosted their price objective on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. TD Cowen boosted their price objective on SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings upgraded SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th.

SkyWest Stock Performance

NASDAQ SKYW opened at $101.09 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.57 and a quick ratio of 0.46. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 1.45 and a beta of 1.45. The company’s fifty day moving average is $101.51 and its two-hundred day moving average is $95.64. SkyWest has a 52-week low of $77.89 and a 52-week high of $123.94.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16). SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $2.91 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that SkyWest will post 10.69 EPS for the current year.

SkyWest announced that its board has authorized a share buyback program on Thursday, July 23rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at SkyWest

In other news, VP Greg Wooley sold 17,726 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $108.55, for a total value of $1,924,157.30. Following the completion of the transaction, the vice president owned 53,323 shares in the company, valued at approximately $5,788,211.65. This represents a 24.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Russell A. Childs sold 50,500 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $113.21, for a total transaction of $5,717,105.00. Following the transaction, the chief executive officer directly owned 346,190 shares of the company’s stock, valued at $39,192,169.90. The trade was a 12.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 115,226 shares of company stock worth $12,855,192. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after buying an additional 216 shares during the period. Public Employees Retirement System of Ohio acquired a new position in SkyWest during the first quarter worth $26,000. Transamerica Financial Advisors LLC raised its stake in SkyWest by 273.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after acquiring an additional 197 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of SkyWest during the third quarter valued at $62,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares in the last quarter. 81.30% of the stock is currently 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.