Zacks Investment Research Upgrades SkyWest, Inc. (SKYW) to “Buy”

SkyWest, Inc. (NASDAQ:SKYW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $52.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.17% from the stock’s previous close.

SKYW has been the subject of several other research reports. Deutsche Bank AG increased their target price on shares of SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. BidaskClub cut shares of SkyWest from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 29th. Cowen and Company increased their target price on shares of SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, October 2nd. Finally, Imperial Capital increased their target price on shares of SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.50.

Shares of SkyWest (NASDAQ:SKYW) opened at $45.95 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 1.61. SkyWest has a 12-month low of $30.40 and a 12-month high of $48.45. The stock has a market cap of $2,379.57, a price-to-earnings ratio of 14.57 and a beta of 1.74.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. SkyWest had a net margin of 6.46% and a return on equity of 14.87%. The business had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. research analysts expect that SkyWest will post 3.32 EPS for the current fiscal year.

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In other SkyWest news, CEO Russell A. Childs sold 1,766 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total value of $83,390.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael B. Thompson sold 5,868 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $47.08, for a total transaction of $276,265.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,134 shares of company stock valued at $571,156. Corporate insiders own 3.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Anchor Bolt Capital LP lifted its stake in shares of SkyWest by 4.0% during the 3rd quarter. Anchor Bolt Capital LP now owns 150,942 shares of the transportation company’s stock worth $6,626,000 after buying an additional 5,789 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of SkyWest by 218.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,069 shares of the transportation company’s stock worth $223,000 after buying an additional 3,478 shares during the last quarter. Nicholas Investment Partners LP lifted its stake in shares of SkyWest by 2.5% during the 3rd quarter. Nicholas Investment Partners LP now owns 96,490 shares of the transportation company’s stock worth $4,236,000 after buying an additional 2,393 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of SkyWest by 2.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 480,150 shares of the transportation company’s stock worth $21,079,000 after buying an additional 13,740 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of SkyWest by 2.8% during the 3rd quarter. Nordea Investment Management AB now owns 191,800 shares of the transportation company’s stock worth $8,420,000 after buying an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 89.96% 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.

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