SkyWest, Inc. $SKYW Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,462 shares of the transportation company’s stock after selling 44,708 shares during the period. Empowered Funds LLC’s holdings in SkyWest were worth $8,903,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake 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 in the last quarter. Blue Trust Inc. increased its holdings in shares of SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 469 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in shares of SkyWest in the 2nd quarter valued at approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SkyWest by 32.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock valued at $169,000 after acquiring an additional 473 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in SkyWest during the second quarter worth $206,000. 81.30% of the stock is owned by institutional investors.

SkyWest Stock Down 0.5%

SKYW stock opened at $93.17 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. SkyWest, Inc. has a fifty-two week low of $74.70 and a fifty-two week high of $135.57. The firm’s 50-day simple moving average is $100.14 and its 200 day simple moving average is $105.13. The stock has a market cap of $3.74 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.95 and a beta of 1.86.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $2.16 EPS. SkyWest’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on SKYW. TD Cowen boosted their target price on shares of SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Cowen restated a “buy” rating on shares of SkyWest in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $130.20.

SkyWest 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.