SkyWest (NASDAQ:SKYW) Earns Neutral Rating from The Goldman Sachs Group

SkyWest (NASDAQ:SKYW)‘s stock had its “neutral” rating restated by stock analysts at The Goldman Sachs Group in a report released on Friday, Marketbeat reports. They presently have a $119.00 target price on the transportation company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 6.89% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Raymond James raised their target price on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen raised their price objective on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and an average price target of $105.75.

SkyWest Stock Up 0.5 %

SKYW stock opened at $111.33 on Friday. The firm’s 50-day moving average is $91.70 and its two-hundred day moving average is $82.51. 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 company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 19.03 and a beta of 1.93. SkyWest has a 52 week low of $44.71 and a 52 week high of $116.47.

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

Insider Activity

In related news, CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the sale, the chief financial officer now owns 113,539 shares in the company, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 16.34 % 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 valued at $10,082,596 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. NBC Securities Inc. grew its stake in SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares in the last quarter. Kings Path Partners LLC purchased a new position in SkyWest during the second quarter valued at approximately $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SkyWest in the 2nd quarter valued at approximately $54,000. CWM LLC lifted its position 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 buying an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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 buying an additional 292 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

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.