SkyWest (NASDAQ:SKYW) Stock Price Expected to Rise, Raymond James Analyst Says

SkyWest (NASDAQ:SKYW) had its price objective increased by equities research analysts at Raymond James from $114.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective indicates a potential upside of 19.84% from the company’s current price.

Several other brokerages also recently weighed in on SKYW. The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. TD Cowen increased their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.25.

SkyWest Trading Down 0.6 %

NASDAQ SKYW opened at $100.13 on Monday. SkyWest has a 12 month low of $48.28 and a 12 month high of $117.51. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $106.27 and its 200-day moving average price is $89.73. The stock has a market cap of $4.04 billion, a P/E ratio of 17.12 and a beta of 1.96.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. SkyWest’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. As a group, equities analysts forecast that SkyWest will post 7.16 EPS for the current fiscal year.

Insider Activity at SkyWest

In related news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction 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 completion of the sale, the insider now owns 97,654 shares of the company’s stock, valued at $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Eric Woodward sold 4,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at approximately $4,954,831.78. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock worth $10,082,596 over the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of SkyWest in the third quarter worth approximately $31,000. NBC Securities Inc. raised its position in SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after acquiring an additional 342 shares during the period. GAMMA Investing LLC boosted its stake in shares of SkyWest by 47.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after acquiring an additional 437 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SkyWest during the 3rd quarter valued at $158,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of SkyWest in the 3rd quarter worth $168,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

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.