Brokerages Set SkyWest, Inc. (NASDAQ:SKYW) Price Target at $56.00

Shares of SkyWest, Inc. (NASDAQ:SKYW) have earned a consensus recommendation of “Moderate Buy” from the four analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $56.00.

Several equities research analysts recently commented on the company. TheStreet raised SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. TD Cowen raised SkyWest from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $68.00 in a research note on Monday, February 5th. Raymond James raised their price objective on SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th.

Insider Activity

In other SkyWest news, Director James L. Welch sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the completion of the transaction, the director now owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SKYW. Swiss National Bank grew its stake in shares of SkyWest by 7.6% in the 1st quarter. Swiss National Bank now owns 29,800 shares of the transportation company’s stock worth $860,000 after buying an additional 2,100 shares during the last quarter. US Bancorp DE grew its stake in shares of SkyWest by 39.5% in the 1st quarter. US Bancorp DE now owns 3,911 shares of the transportation company’s stock worth $112,000 after buying an additional 1,107 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of SkyWest by 49.9% in the 1st quarter. HighTower Advisors LLC now owns 15,968 shares of the transportation company’s stock worth $460,000 after buying an additional 5,318 shares during the last quarter. Citigroup Inc. grew its stake in shares of SkyWest by 7.6% in the 1st quarter. Citigroup Inc. now owns 74,418 shares of the transportation company’s stock worth $2,147,000 after buying an additional 5,243 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of SkyWest by 56.8% in the 1st quarter. MetLife Investment Management LLC now owns 26,137 shares of the transportation company’s stock worth $754,000 after buying an additional 9,464 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Trading Down 0.6 %

Shares of SKYW stock opened at $69.08 on Tuesday. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 79.40 and a beta of 1.95. The stock has a 50-day moving average of $61.43 and a 200-day moving average of $50.99. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 1.21. SkyWest has a 1-year low of $20.60 and a 1-year high of $70.33.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, February 1st. The transportation company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.11 by $0.31. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The business had revenue of $751.80 million during the quarter, compared to analysts’ expectations of $758.41 million. During the same quarter last year, the firm posted ($0.93) earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that SkyWest will post 6.39 earnings per share for the current 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.