Inspire Investing LLC Acquires Shares of 18,258 SkyWest, Inc. $SKYW

Inspire Investing LLC acquired a new position in SkyWest, Inc. (NASDAQ:SKYW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,258 shares of the transportation company’s stock, valued at approximately $1,677,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake 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 valued at $26,000 after purchasing an additional 216 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of SkyWest by 273.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after acquiring an additional 197 shares during the period. Johnson Financial Group Inc. bought a new position in shares of SkyWest in the 3rd quarter worth approximately $62,000. EverSource Wealth Advisors LLC raised its position 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 worth $64,000 after acquiring an additional 339 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of SkyWest in the 4th quarter valued at approximately $83,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SKYW. Weiss Ratings lowered SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. TD Cowen decreased their price target on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Citigroup lifted their price target on shares of SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and an average price target of $119.00.

SkyWest Trading Up 0.6%

SkyWest stock opened at $99.33 on Wednesday. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $123.94. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.47. The business’s fifty day simple moving average is $87.83 and its two-hundred day simple moving average is $94.99. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.35. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $993.06 million. During the same quarter in the previous year, the firm earned $2.42 EPS. SkyWest’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that SkyWest, Inc. will post 10.69 earnings per share for the current fiscal year.

SkyWest Profile

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.