Summit Global Investments Purchases 1,678 Shares of SkyWest, Inc. $SKYW

Summit Global Investments lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 17.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,563 shares of the transportation company’s stock after purchasing an additional 1,678 shares during the quarter. Summit Global Investments’ holdings in SkyWest were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in SkyWest by 38.4% during the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after buying an additional 153 shares during the period. Blue Trust Inc. grew its position in shares of SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after buying an additional 469 shares during the period. TD Private Client Wealth LLC bought a new position in shares of SkyWest in the 2nd quarter worth about $71,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SkyWest by 32.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock worth $169,000 after acquiring an additional 473 shares in the last quarter. Finally, EMC Capital Management purchased a new position in SkyWest during the 2nd quarter valued at about $186,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SKYW shares. Cowen restated a “buy” rating on shares of SkyWest in a report on Friday, October 31st. Evercore ISI upped their price target on SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. TD Cowen lifted their price objective on SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Cantor Fitzgerald set a $132.00 target price on SkyWest in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, SkyWest currently has an average rating of “Buy” and a consensus price target of $130.20.

SkyWest Stock Up 0.8%

SkyWest stock opened at $96.19 on Tuesday. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The stock has a fifty day simple moving average of $99.39 and a two-hundred day simple moving average of $105.15. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.95 and a beta of 1.86.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.56 by $0.25. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $2.16 earnings per share. SkyWest’s revenue was up 15.0% compared to the same quarter last year. Equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal 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.