SkyWest, Inc. (NASDAQ:SKYW) Receives $130.20 Consensus Price Target from Analysts

Shares of SkyWest, Inc. (NASDAQ:SKYW) have earned an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $130.20.

A number of analysts have commented on the stock. Cowen reiterated a “buy” rating on shares of SkyWest in a report on Friday, October 31st. Zacks Research raised SkyWest from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. TD Cowen upped their target price on SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Cantor Fitzgerald set a $132.00 price target on SkyWest in a report on Friday, October 31st.

Hedge Funds Weigh In On SkyWest

Institutional investors and hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in shares of SkyWest during the 3rd quarter worth approximately $38,000. Elevation Point Wealth Partners LLC purchased a new position in SkyWest in the second quarter worth approximately $40,000. Fifth Third Bancorp increased its stake in SkyWest by 38.4% during the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after acquiring an additional 153 shares during the last quarter. Blue Trust Inc. raised its position in SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 469 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of SkyWest in the 3rd quarter valued at $62,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Trading Up 1.9%

Shares of SKYW stock opened at $101.22 on Friday. SkyWest has a fifty-two week low of $74.70 and a fifty-two week high of $135.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73. The stock’s fifty day moving average is $99.24 and its two-hundred day moving average is $105.12. The firm has a market capitalization of $4.06 billion, a P/E ratio of 10.30, a PEG ratio of 0.95 and a beta of 1.86.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 earnings per share. Research analysts expect that SkyWest will post 9.01 earnings per share for the current fiscal 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.