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

SkyWest, Inc. (NASDAQ:SKYW) has earned a consensus rating of “Moderate Buy” from the four ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $62.25.

Several research firms recently issued reports on SKYW. Raymond James upped their target price on SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. TD Cowen raised shares of SkyWest from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $68.00 in a report on Monday, February 5th. Evercore ISI upped their price target on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, TheStreet raised shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd.

Insider Transactions at SkyWest

In other news, Director James L. Welch sold 2,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $66.72, for a total transaction of $133,440.00. Following the sale, the director now directly owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several hedge funds have recently modified their holdings of the company. Creative Planning boosted its stake in shares of SkyWest by 0.4% during the 4th quarter. Creative Planning now owns 58,274 shares of the transportation company’s stock worth $3,042,000 after acquiring an additional 207 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of SkyWest by 8.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the transportation company’s stock worth $165,000 after purchasing an additional 291 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of SkyWest by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,851 shares of the transportation company’s stock worth $120,000 after purchasing an additional 362 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of SkyWest by 22.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company’s stock worth $110,000 after purchasing an additional 381 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of SkyWest during the 4th quarter worth about $26,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Price Performance

NASDAQ SKYW opened at $69.13 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. The stock’s fifty day moving average price is $65.47 and its 200 day moving average price is $53.70. SkyWest has a 1 year low of $23.37 and a 1 year high of $71.15. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 79.46 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.31. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The firm had revenue of $751.80 million for the quarter, compared to the consensus estimate of $758.41 million. During the same period in the prior year, the firm earned ($0.93) EPS. The firm’s revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts forecast that SkyWest will post 6.45 earnings per share for the current year.

SkyWest Company Profile

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.