SkyWest (NASDAQ:SKYW) Downgraded by ValuEngine

ValuEngine lowered shares of SkyWest (NASDAQ:SKYW) from a sell rating to a strong sell rating in a report published on Wednesday, ValuEngine reports.

SKYW has been the topic of several other reports. BidaskClub raised SkyWest from a sell rating to a hold rating in a research report on Wednesday, October 23rd. Stephens started coverage on SkyWest in a research report on Monday, November 4th. They set an overweight rating and a $75.00 price target on the stock. Finally, Evercore ISI reaffirmed a buy rating and set a $72.00 price target on shares of SkyWest in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $67.29.

Shares of SKYW opened at $63.15 on Wednesday. The business’s 50-day moving average is $57.91 and its two-hundred day moving average is $58.91. The company has a market capitalization of $3.22 billion, a P/E ratio of 11.92 and a beta of 1.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.72 and a current ratio of 0.84. SkyWest has a fifty-two week low of $42.38 and a fifty-two week high of $63.69.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.05. The company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $752.93 million. SkyWest had a return on equity of 15.52% and a net margin of 11.04%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.57 EPS. Analysts forecast that SkyWest will post 6.22 EPS for the current year.

In other news, COO Michael B. Thompson sold 5,523 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $60.19, for a total transaction of $332,429.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry C. Atkin sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $60.07, for a total transaction of $600,700.00. Following the sale, the director now directly owns 467,109 shares in the company, valued at $28,059,237.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,553 shares of company stock worth $1,955,270. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of SKYW. Nuveen Asset Management LLC purchased a new stake in shares of SkyWest during the 2nd quarter worth about $20,411,000. UBS Asset Management Americas Inc. boosted its stake in shares of SkyWest by 1,281.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 226,803 shares of the transportation company’s stock worth $13,760,000 after acquiring an additional 210,386 shares in the last quarter. Morgan Stanley boosted its stake in shares of SkyWest by 58.1% during the 2nd quarter. Morgan Stanley now owns 361,008 shares of the transportation company’s stock worth $21,902,000 after acquiring an additional 132,691 shares in the last quarter. Northern Trust Corp boosted its stake in shares of SkyWest by 15.0% during the 2nd quarter. Northern Trust Corp now owns 814,355 shares of the transportation company’s stock worth $49,407,000 after acquiring an additional 106,262 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of SkyWest by 11.3% during the 2nd quarter. Wells Fargo & Company MN now owns 798,247 shares of the transportation company’s stock worth $48,431,000 after acquiring an additional 80,725 shares in the last quarter. 90.04% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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