SkyWest (NASDAQ:SKYW) Stock Price Down 4.3%

SkyWest, Inc. (NASDAQ:SKYW)’s share price was down 4.3% during mid-day trading on Thursday . The company traded as low as $80.03 and last traded at $80.15. Approximately 49,046 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 434,162 shares. The stock had previously closed at $83.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SKYW shares. TD Cowen boosted their target price on shares of SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Evercore ISI boosted their target price on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.67.

SkyWest Stock Performance

The stock’s 50-day moving average price is $78.24 and its 200-day moving average price is $67.35. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The company has a market cap of $3.35 billion, a P/E ratio of 30.23 and a beta of 1.96.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.21. SkyWest had a net margin of 3.83% and a return on equity of 5.45%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $800.07 million. During the same quarter in the prior year, the business posted ($0.45) earnings per share. SkyWest’s revenue was up 16.4% compared to the same quarter last year. Equities analysts anticipate that SkyWest, Inc. will post 6.83 EPS for the current year.

Insider Buying and Selling

In related news, CEO Russell A. Childs sold 32,286 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $77.05, for a total transaction of $2,487,636.30. Following the completion of the sale, the chief executive officer now owns 377,451 shares of the company’s stock, valued at $29,082,599.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SkyWest news, CAO Eric Woodward sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. Following the completion of the transaction, the chief accounting officer now owns 48,426 shares of the company’s stock, valued at $3,901,198.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Russell A. Childs sold 32,286 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $77.05, for a total value of $2,487,636.30. Following the transaction, the chief executive officer now directly owns 377,451 shares of the company’s stock, valued at approximately $29,082,599.55. The disclosure for this sale can be found here. Insiders sold 94,290 shares of company stock valued at $7,282,611 over the last quarter. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKYW. Clearbridge Investments LLC acquired a new position in SkyWest during the fourth quarter worth about $12,773,000. Norges Bank acquired a new position in shares of SkyWest in the fourth quarter valued at approximately $12,134,000. Goldman Sachs Group Inc. increased its stake in shares of SkyWest by 46.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company’s stock valued at $22,145,000 after buying an additional 134,066 shares during the period. American Century Companies Inc. increased its stake in shares of SkyWest by 16.4% in the third quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock valued at $30,241,000 after buying an additional 101,459 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of SkyWest by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,448,283 shares of the transportation company’s stock valued at $180,002,000 after buying an additional 60,957 shares during the period. Institutional investors and hedge funds 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.