Raymond James Boosts SkyWest (NASDAQ:SKYW) Price Target to $114.00

SkyWest (NASDAQ:SKYW) had its price target raised by Raymond James from $100.00 to $114.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

SkyWest Stock Performance

Shares of SKYW traded up $6.13 during midday trading on Friday, hitting $101.33. 691,431 shares of the stock traded hands, compared to its average volume of 321,510. SkyWest has a 1-year low of $41.96 and a 1-year high of $103.49. The firm has a market capitalization of $4.06 billion, a PE ratio of 17.32 and a beta of 1.93. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84. The business’s 50 day moving average price is $84.84 and its two-hundred day moving average price is $79.79.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million during 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 11.20%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities research analysts predict that SkyWest will post 6.88 EPS for the current fiscal year.

Institutional Investors Weigh In On SkyWest

Several institutional investors have recently bought and sold shares of SKYW. Allspring Global Investments Holdings LLC lifted its holdings in SkyWest by 13,737.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,214 shares of the transportation company’s stock worth $153,000 after purchasing an additional 2,198 shares during the period. BNP Paribas Financial Markets lifted its holdings in SkyWest by 140.5% in the first quarter. BNP Paribas Financial Markets now owns 59,692 shares of the transportation company’s stock worth $4,124,000 after purchasing an additional 34,867 shares during the period. Janney Montgomery Scott LLC acquired a new stake in SkyWest in the first quarter worth about $1,448,000. Texas Permanent School Fund Corp raised its position in SkyWest by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,834 shares of the transportation company’s stock worth $2,475,000 after acquiring an additional 482 shares in the last quarter. Finally, Empowered Funds LLC raised its position in SkyWest by 3.0% in the first quarter. Empowered Funds LLC now owns 175,453 shares of the transportation company’s stock worth $12,120,000 after acquiring an additional 5,053 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.