SkyWest (NASDAQ:SKYW) Price Target Raised to $120.00

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

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

SkyWest Stock Down 0.6 %

NASDAQ SKYW opened at $100.13 on Monday. The business’s fifty day simple moving average is $106.40 and its 200-day simple moving average is $89.80. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The firm has a market cap of $4.04 billion, a PE ratio of 17.12 and a beta of 1.96. SkyWest has a 52 week low of $48.28 and a 52 week high of $117.51.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million for 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 11.02%. SkyWest’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, equities analysts anticipate that SkyWest will post 7.16 earnings per share for the current year.

Insider Activity at SkyWest

In other news, CAO Eric Woodward sold 4,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $446,120.00. Following the sale, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the transaction, the chief executive officer now directly owns 349,548 shares of the company’s stock, valued at approximately $38,964,115.56. The trade was a 7.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,467 shares of company stock worth $10,082,596. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

A number of hedge funds have recently added to or reduced their stakes in SKYW. Pacer Advisors Inc. increased its position in shares of SkyWest by 2.3% during the second quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after acquiring an additional 51,180 shares during the period. American Century Companies Inc. grew its stake in SkyWest by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after purchasing an additional 165,670 shares in the last quarter. Geode Capital Management LLC increased its holdings in SkyWest by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after purchasing an additional 6,542 shares during the period. Charles Schwab Investment Management Inc. raised its position in SkyWest by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after purchasing an additional 76,007 shares in the last quarter. Finally, SW Investment Management LLC boosted its stake in shares of SkyWest by 13.2% in the 2nd quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after buying an additional 70,000 shares during the period. 81.30% of the stock is currently 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.