Brokerages Set SkyWest, Inc. (NASDAQ:SKYW) PT at $107.25

SkyWest, Inc. (NASDAQ:SKYW) has earned a consensus rating of “Moderate Buy” from the four research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $107.25.

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. TD Cowen increased their price target on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Raymond James lifted their price objective on shares of SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 30th.

SkyWest Stock Up 3.0 %

SkyWest stock opened at $111.04 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. SkyWest has a one year low of $48.28 and a one year high of $117.51. The company has a 50-day simple moving average of $107.25 and a 200-day simple moving average of $90.57. The firm has a market capitalization of $4.48 billion, a P/E ratio of 18.98 and a beta of 1.98.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping 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 firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. During the same quarter in the prior year, the firm earned $0.55 EPS. SkyWest’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, equities analysts expect that SkyWest will post 7.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Russell A. Childs sold 27,903 shares of SkyWest stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the transaction, the chief executive officer now owns 349,548 shares in the company, valued at approximately $38,964,115.56. This trade represents a 7.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock worth $10,082,596 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several large investors have recently modified their holdings of SKYW. Pacer Advisors Inc. lifted its holdings in shares of SkyWest by 2.3% during the second quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock valued at $184,855,000 after purchasing an additional 51,180 shares during the last quarter. American Century Companies Inc. increased its stake in SkyWest by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after purchasing an additional 165,670 shares in the last quarter. Geode Capital Management LLC raised its holdings in SkyWest by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after buying an additional 6,542 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SkyWest by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after buying an additional 76,007 shares in the last quarter. Finally, SW Investment Management LLC increased its position in shares of SkyWest by 13.2% in the second 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 in the last quarter. 81.30% of the stock is owned by institutional investors.

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.