Brokerages Set SkyWest, Inc. (NASDAQ:SKYW) Price Target at $62.25

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been given an average recommendation of “Moderate Buy” by the four analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $62.25.

A number of brokerages have recently issued reports on SKYW. TheStreet upgraded shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. TD Cowen upgraded shares of SkyWest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $68.00 in a research report on Monday, February 5th. Evercore ISI upped their price target on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Raymond James lifted their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd.

Insider Buying and Selling at SkyWest

In other news, Director James L. Welch sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 directly owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of SkyWest

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in SkyWest by 16.4% in the 3rd quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock valued at $30,241,000 after purchasing an additional 101,459 shares during the last quarter. Seven Eight Capital LP acquired a new stake in SkyWest during the third quarter worth approximately $833,000. Illinois Municipal Retirement Fund purchased a new stake in SkyWest in the 3rd quarter worth approximately $1,115,000. Capula Management Ltd acquired a new position in SkyWest in the 3rd quarter valued at $1,058,000. Finally, EP Wealth Advisors LLC raised its holdings in SkyWest by 5,203.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock valued at $10,763,000 after acquiring an additional 251,792 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Stock Performance

NASDAQ SKYW opened at $71.38 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 1.21. The business’s 50 day moving average is $65.90 and its two-hundred day moving average is $54.29. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 82.05 and a beta of 1.95. SkyWest has a 12-month low of $23.37 and a 12-month high of $71.80.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.31. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The firm had revenue of $751.80 million for the quarter, compared to analyst estimates of $758.41 million. During the same quarter in the prior year, the company posted ($0.93) earnings per share. SkyWest’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts expect that SkyWest will post 6.45 EPS 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.