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

SkyWest (NASDAQ:SKYW) had its target price increased by Raymond James from $114.00 to $120.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research report on Friday, November 15th. TD Cowen raised their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.25.

SkyWest Stock Down 0.6 %

Shares of NASDAQ SKYW opened at $100.13 on Monday. The business has a 50-day moving average of $106.40 and a two-hundred day moving average of $89.80. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 17.12 and a beta of 1.96. SkyWest has a 1 year low of $48.28 and a 1 year high of $117.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 at SkyWest

In other news, CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total transaction 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 $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 in the last 90 days. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On SkyWest

Large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its holdings in shares of SkyWest by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock valued at $921,000 after acquiring an additional 98 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in SkyWest by 1.9% in the second quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock valued at $681,000 after purchasing an additional 152 shares during the period. Evergreen Capital Management LLC boosted its holdings in SkyWest by 3.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock valued at $465,000 after purchasing an additional 213 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in SkyWest by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock worth $1,803,000 after purchasing an additional 214 shares during the period. Finally, Hanseatic Management Services Inc. increased its position in SkyWest by 2.6% during the 3rd quarter. Hanseatic Management Services Inc. now owns 12,443 shares of the transportation company’s stock worth $1,058,000 after purchasing an additional 316 shares during the period. 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.