SkyWest’s (SKYW) “Neutral” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of SkyWest (NASDAQ:SKYW) in a report published on Friday, MarketBeat Ratings reports. The Goldman Sachs Group currently has a $119.00 price target on the transportation company’s stock.

A number of other brokerages have also weighed in on SKYW. TD Cowen boosted 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. Raymond James increased their target price on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.75.

SkyWest Stock Up 0.5 %

SkyWest stock opened at $111.33 on Friday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 19.03 and a beta of 1.93. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest has a 12 month low of $44.71 and a 12 month high of $116.47. The stock has a fifty day simple moving average of $91.70 and a two-hundred day simple moving average of $82.58.

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

Insiders Place Their Bets

In other SkyWest news, Director Ronald J. Mittelstaedt sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the completion of the transaction, the director now directly owns 11,283 shares in the company, valued at $1,264,372.98. This represents a 68.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the sale, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. NBC Securities Inc. raised its holdings in SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares during the period. Kings Path Partners LLC purchased a new stake in shares of SkyWest during the second quarter worth about $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SkyWest during the 2nd quarter valued at approximately $54,000. CWM LLC lifted its holdings in SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in SkyWest by 45.9% in the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after purchasing an additional 292 shares during the period. Institutional investors own 81.30% of the company’s stock.

About SkyWest

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.