SkyWest (NASDAQ:SKYW) Hits New 12-Month High at $69.50

Shares of SkyWest, Inc. (NASDAQ:SKYW) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $69.50 and last traded at $69.50, with a volume of 24596 shares. The stock had previously closed at $68.29.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SKYW shares. Raymond James lifted their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $68.00 in a report on Monday, February 5th. Finally, TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

SkyWest Trading Up 1.8 %

The stock has a market cap of $2.80 billion, a PE ratio of 79.86 and a beta of 1.95. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.90. The company’s 50-day moving average price is $61.05 and its 200 day moving average price is $50.87.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.11 by $0.31. The firm had revenue of $751.80 million for the quarter, compared to analyst estimates of $758.41 million. SkyWest had a net margin of 1.17% and a return on equity of 1.59%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.93) EPS. On average, sell-side analysts forecast that SkyWest, Inc. will post 6.39 EPS for the current fiscal year.

Insider Buying and Selling at SkyWest

In other SkyWest news, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $133,440.00. Following the sale, the director now owns 56,067 shares of the company’s stock, valued at $3,740,790.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of SkyWest

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in SkyWest in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of SkyWest during the fourth quarter worth $29,000. Cerity Partners LLC purchased a new stake in shares of SkyWest during the first quarter worth $342,000. Strs Ohio purchased a new stake in shares of SkyWest during the fourth quarter worth $36,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of SkyWest during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.