Raymond James Reaffirms “Outperform” Rating for SkyWest (NASDAQ:SKYW)

SkyWest (NASDAQ:SKYWGet Free Report)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $130.00 price target on the transportation company’s stock, up from their previous price target of $120.00. Raymond James’ target price suggests a potential upside of 6.39% from the stock’s previous close.

SKYW has been the topic of a number of other reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research report on Friday, November 15th. TD Cowen upped their target price on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $109.75.

Get Our Latest Stock Analysis on SKYW

SkyWest Price Performance

SKYW traded up $5.43 during trading on Friday, hitting $122.19. The company’s stock had a trading volume of 718,428 shares, compared to its average volume of 348,392. The firm’s 50 day moving average price is $108.59 and its two-hundred day moving average price is $93.81. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 20.89 and a beta of 1.98. SkyWest has a 12 month low of $52.78 and a 12 month high of $135.57.

SkyWest (NASDAQ:SKYWGet Free Report) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. During the same period in the previous year, the business earned $0.42 earnings per share. Sell-side analysts forecast that SkyWest will post 7.17 earnings per share for the current fiscal year.

Insider Transactions at SkyWest

In other news, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $446,120.00. Following the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the transaction, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock valued at $10,082,596 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

Several hedge funds have recently added to or reduced their stakes in SKYW. FMR LLC increased its position in SkyWest by 42.2% during the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after buying an additional 143,661 shares during the period. Barclays PLC lifted its position in SkyWest by 563.8% during the third quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock worth $13,002,000 after purchasing an additional 129,901 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of SkyWest by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock worth $58,051,000 after acquiring an additional 76,007 shares during the period. AQR Capital Management LLC boosted its position in shares of SkyWest by 64.0% during the 2nd quarter. AQR Capital Management LLC now owns 63,710 shares of the transportation company’s stock worth $5,229,000 after acquiring an additional 24,874 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of SkyWest by 50.8% in the 3rd quarter. Citigroup Inc. now owns 61,565 shares of the transportation company’s stock valued at $5,234,000 after purchasing an additional 20,752 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

About SkyWest

(Get Free Report)

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.

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