Geode Capital Management LLC Has $103.99 Million Stock Holdings in SkyWest, Inc. $SKYW

Geode Capital Management LLC raised its position in SkyWest, Inc. (NASDAQ:SKYW) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,009,759 shares of the transportation company’s stock after acquiring an additional 19,521 shares during the period. Geode Capital Management LLC’s holdings in SkyWest were worth $103,992,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of SkyWest by 8.3% in the first quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock valued at $131,572,000 after purchasing an additional 115,619 shares during the last quarter. SW Investment Management LLC grew its position in SkyWest by 5.9% in the second quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock valued at $92,673,000 after purchasing an additional 50,000 shares in the last quarter. Invesco Ltd. increased its stake in SkyWest by 4.0% in the 1st quarter. Invesco Ltd. now owns 564,732 shares of the transportation company’s stock valued at $49,341,000 after buying an additional 21,723 shares during the last quarter. Nuveen LLC bought a new stake in SkyWest during the 1st quarter worth about $37,474,000. Finally, Bandera Partners LLC lifted its position in SkyWest by 138.1% during the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company’s stock worth $18,260,000 after buying an additional 121,240 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Zacks Research raised SkyWest from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Evercore ISI upped their price objective on SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Cantor Fitzgerald set a $132.00 target price on shares of SkyWest in a research note on Friday, October 31st. Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, TD Cowen upped their price target on shares of SkyWest from $124.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $130.20.

SkyWest Trading Down 0.7%

Shares of SkyWest stock opened at $92.53 on Friday. SkyWest, Inc. has a 52-week low of $74.70 and a 52-week high of $135.57. The stock has a market cap of $3.71 billion, a PE ratio of 9.41, a PEG ratio of 0.95 and a beta of 1.86. The firm has a 50-day moving average of $99.80 and a 200-day moving average of $105.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73.

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