SkyWest, Inc. (SKYW) Receives Average Recommendation of “Buy” from Brokerages

Shares of SkyWest, Inc. (NASDAQ:SKYW) have received a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $50.60.

A number of research firms have weighed in on SKYW. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, November 22nd. Imperial Capital raised their price target on SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a research report on Tuesday, October 31st. Deutsche Bank raised their price target on SkyWest from $47.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Cowen raised their price target on SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Finally, ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 18th.

SkyWest (SKYW) traded down $0.35 during midday trading on Thursday, reaching $52.15. The company’s stock had a trading volume of 299,026 shares, compared to its average volume of 336,377. SkyWest has a twelve month low of $30.40 and a twelve month high of $54.17. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $2,745.06, a P/E ratio of 16.81 and a beta of 1.77.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. SkyWest’s dividend payout ratio (DPR) is currently -12.26%.

In other news, insider Wade J. Steel sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total transaction of $211,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Russell A. Childs sold 1,766 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total value of $83,390.52. The disclosure for this sale can be found here. Insiders have sold 154,239 shares of company stock worth $7,512,577 over the last ninety days. Insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SKYW. Victory Capital Management Inc. grew its stake in shares of SkyWest by 87.0% in the third quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock worth $62,340,000 after purchasing an additional 660,859 shares during the last quarter. RWC Asset Management LLP grew its stake in shares of SkyWest by 82.1% in the third quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock worth $13,170,000 after purchasing an additional 135,211 shares during the last quarter. LSV Asset Management grew its stake in shares of SkyWest by 16.2% in the second quarter. LSV Asset Management now owns 966,937 shares of the transportation company’s stock worth $33,939,000 after purchasing an additional 134,600 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of SkyWest by 121.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,430 shares of the transportation company’s stock worth $9,677,000 after purchasing an additional 120,740 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of SkyWest by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock worth $45,479,000 after purchasing an additional 117,700 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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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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