TD Cowen Increases SkyWest (NASDAQ:SKYW) Price Target to $120.00

SkyWest (NASDAQ:SKYW) had its price objective upped by stock analysts at TD Cowen from $95.00 to $120.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 6.74% from the stock’s previous close.

Separately, Raymond James increased their price objective on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

SkyWest Trading Up 7.9 %

NASDAQ:SKYW opened at $112.42 on Tuesday. The company has a market cap of $4.53 billion, a PE ratio of 19.22 and a beta of 1.93. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95. The company has a 50 day simple moving average of $86.64 and a two-hundred day simple moving average of $80.67. SkyWest has a 12 month low of $41.96 and a 12 month high of $113.62.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data 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 return on equity of 11.02% and a net margin of 7.29%. The company had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. SkyWest’s revenue was up 19.1% compared to the same quarter last year. Research analysts forecast that SkyWest will post 7.06 earnings per share for the current year.

Hedge Funds Weigh In On SkyWest

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of 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 buying an additional 2,198 shares during the period. BNP Paribas Financial Markets raised its stake in SkyWest by 140.5% during the 1st quarter. BNP Paribas Financial Markets now owns 59,692 shares of the transportation company’s stock worth $4,124,000 after acquiring an additional 34,867 shares during the period. Janney Montgomery Scott LLC purchased a new position in SkyWest during the first quarter valued at approximately $1,448,000. Texas Permanent School Fund Corp boosted its position in shares of 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 purchasing an additional 482 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of 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 purchasing an additional 5,053 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

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.