TD Cowen Issues Positive Forecast for SkyWest (NASDAQ:SKYW) Stock Price

SkyWest (NASDAQ:SKYW) had its price objective increased by research analysts at TD Cowen from $95.00 to $120.00 in a research report issued on Tuesday, Briefing.com reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 20.92% from the company’s current price.

Separately, Raymond James boosted their price objective on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and an average target price of $101.33.

SkyWest Trading Down 2.1 %

NASDAQ SKYW opened at $99.24 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.74 and a current ratio of 0.86. The company has a 50-day simple moving average of $85.31 and a 200-day simple moving average of $80.20. SkyWest has a one year low of $41.96 and a one year high of $103.49. The firm has a market capitalization of $3.98 billion, a PE ratio of 16.96 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. SkyWest’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. On average, equities analysts forecast that SkyWest will post 6.96 earnings per share for the current year.

Hedge Funds Weigh In On SkyWest

Several large investors have recently bought and sold shares of SKYW. Pacer Advisors Inc. raised its holdings in shares of SkyWest by 2.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after buying an additional 51,180 shares in the last quarter. American Century Companies Inc. increased its holdings in SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after purchasing an additional 165,670 shares during the last quarter. SW Investment Management LLC boosted its stake in SkyWest by 13.2% during the 2nd quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after acquiring an additional 70,000 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of SkyWest by 90.2% in the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of SkyWest by 27.7% during the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock worth $36,602,000 after purchasing an additional 96,830 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.