SkyWest (SKYW) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of SkyWest (NASDAQ:SKYW) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts also recently issued reports on SKYW. ValuEngine raised SkyWest from a buy rating to a strong-buy rating in a research note on Monday, September 18th. Zacks Investment Research downgraded SkyWest from a buy rating to a hold rating in a research note on Tuesday, September 19th. Cowen increased their target price on shares of SkyWest from $44.00 to $52.00 and gave the company an outperform rating in a research report on Monday, October 2nd. Deutsche Bank increased their target price on shares of SkyWest from $47.00 to $55.00 and gave the company a buy rating in a research report on Thursday, October 26th. Finally, Imperial Capital increased their target price on shares of SkyWest from $38.00 to $47.00 and gave the company an in-line rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $52.20.

SkyWest (NASDAQ:SKYW) opened at $49.25 on Friday. The company has a market cap of $2,550.00, a PE ratio of -18.94 and a beta of 1.77. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61. SkyWest has a fifty-two week low of $30.40 and a fifty-two week high of $54.85.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. The firm had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. equities research analysts forecast that SkyWest will post 3.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 29th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, December 28th. SkyWest’s payout ratio is presently -12.31%.

In other SkyWest news, insider Wade J. Steel sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total value of $211,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry C. Atkin sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.10, for a total value of $5,291,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,239 shares of company stock valued at $7,512,577. Corporate insiders own 3.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in SkyWest by 87.0% in the third quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock worth $62,340,000 after purchasing an additional 660,859 shares during the period. RWC Asset Management LLP lifted its holdings in shares of SkyWest by 82.1% during the third quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock valued at $13,170,000 after purchasing an additional 135,211 shares in the last quarter. LSV Asset Management lifted its holdings in shares of SkyWest by 16.2% during the second quarter. LSV Asset Management now owns 966,937 shares of the transportation company’s stock valued at $33,939,000 after purchasing an additional 134,600 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in SkyWest by 121.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,430 shares of the transportation company’s stock valued at $9,677,000 after acquiring an additional 120,740 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in SkyWest by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock valued at $45,479,000 after acquiring an additional 117,700 shares during the period. 90.75% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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