SkyWest, Inc. (NASDAQ:SKYW) Receives Consensus Rating of “Moderate Buy” from Analysts

SkyWest, Inc. (NASDAQ:SKYW) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $119.40.

A number of analysts have recently weighed in on SKYW shares. Citigroup raised their target price on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. The Goldman Sachs Group lowered shares of SkyWest from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $115.00 in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Finally, TD Cowen boosted their target price on shares of SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd.

Insider Activity at SkyWest

In other SkyWest news, VP Greg Wooley sold 17,726 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $108.55, for a total transaction of $1,924,157.30. Following the transaction, the vice president owned 53,323 shares of the company’s stock, valued at approximately $5,788,211.65. This represents a 24.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert J. Simmons sold 25,000 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $110.49, for a total value of $2,762,250.00. Following the completion of the transaction, the chief financial officer owned 93,902 shares in the company, valued at $10,375,231.98. The trade was a 21.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 115,226 shares of company stock worth $12,855,192. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in SkyWest by 480.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Transamerica Financial Advisors LLC raised its holdings in 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 purchasing an additional 197 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in SkyWest during the 1st quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new position in SkyWest during the 3rd quarter valued at about $62,000. Finally, EverSource Wealth Advisors LLC lifted its position in SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares during the period. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of SKYW opened at $101.09 on Monday. The company has a market capitalization of $3.93 billion, a P/E ratio of 10.05, a PEG ratio of 1.45 and a beta of 1.45. SkyWest has a one year low of $77.89 and a one year high of $123.94. The business’s 50 day simple moving average is $101.51 and its 200-day simple moving average is $95.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.57 and a quick ratio of 0.46.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.16). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.91 EPS. As a group, sell-side analysts predict that SkyWest will post 10.69 EPS for the current fiscal year.

SkyWest announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the transportation company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About SkyWest

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.