SkyWest, Inc. (SKYW) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of SkyWest, Inc. (NASDAQ:SKYW) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest, Inc.,. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. It provides passenger and air freight service and completes over 880 daily flights. SkyWest, Inc. operates regional airlines that offer scheduled passenger service to destinations in the United States, Canada, Mexico, and the Caribbean. SkyWest Airlines operates through partnerships with United Airlines (United), Delta Air Lines (Delta), American Airlines (American) and Alaska Airlines. ExpressJet Airlines operates through partnerships with United, Delta and American. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest, Inc., is headquartered in St. George, Utah. “

A number of other equities research analysts have also recently issued reports on SKYW. ValuEngine cut SkyWest from a strong-buy rating to a buy rating in a research note on Monday, September 4th. Deutsche Bank AG raised their target price on SkyWest from $47.00 to $55.00 and gave the company a buy rating in a research note on Thursday, October 26th. Imperial Capital raised their target price on SkyWest from $38.00 to $47.00 and gave the company an in-line rating in a research note on Tuesday, October 31st. Cowen and Company raised their target price on SkyWest from $44.00 to $52.00 and gave the company an outperform rating in a research note on Monday, October 2nd. Finally, BidaskClub cut SkyWest from a hold rating to a sell rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of Buy and an average price target of $47.50.

SkyWest (SKYW) traded up $0.70 during trading on Tuesday, reaching $50.30. 241,460 shares of the company’s stock were exchanged, compared to its average volume of 341,471. The firm has a market capitalization of $2,570.00, a P/E ratio of 15.13 and a beta of 1.74. 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 1 year low of $30.40 and a 1 year high of $50.40.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. The firm had revenue of $831.93 million during the quarter, compared to the consensus estimate of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share. research analysts predict that SkyWest will post 3.32 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.64%. SkyWest’s payout ratio is -12.31%.

In related news, COO Michael B. Thompson sold 5,868 shares of SkyWest stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $47.08, for a total transaction of $276,265.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Russell A. Childs sold 1,766 shares of SkyWest stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,134 shares of company stock worth $571,156. Company insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. RWC Asset Management LLP raised its stake in shares of SkyWest by 82.1% during the third quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock valued at $13,170,000 after purchasing an additional 135,211 shares in the last quarter. Dana Investment Advisors Inc. bought a new stake in shares of SkyWest during the third quarter valued at about $2,426,000. California Public Employees Retirement System raised its stake in shares of SkyWest by 1.5% during the third quarter. California Public Employees Retirement System now owns 174,774 shares of the transportation company’s stock valued at $7,673,000 after purchasing an additional 2,633 shares in the last quarter. Anchor Bolt Capital LP raised its stake in shares of SkyWest by 4.0% during the third quarter. Anchor Bolt Capital LP now owns 150,942 shares of the transportation company’s stock valued at $6,626,000 after purchasing an additional 5,789 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of SkyWest by 218.6% during the third quarter. Envestnet Asset Management Inc. now owns 5,069 shares of the transportation company’s stock valued at $223,000 after purchasing an additional 3,478 shares in the last quarter. Institutional investors and hedge funds 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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