SkyWest (NASDAQ:SKYW) Cut to Hold at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of SkyWest (NASDAQ:SKYW – Free Report) from a buy rating to a hold rating in a research note published on Saturday.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised shares of SkyWest from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. Raymond James decreased their target price on SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd.

View Our Latest Research Report on SKYW

SkyWest Trading Down 1.4 %

SkyWest stock opened at $85.10 on Friday. The stock has a 50-day simple moving average of $93.67 and a 200 day simple moving average of $100.87. The stock has a market capitalization of $3.46 billion, a P/E ratio of 10.95 and a beta of 1.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest has a 52 week low of $64.61 and a 52 week high of $135.57.

SkyWest (NASDAQ:SKYW – Get Free Report) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter in the prior year, the company posted $0.42 earnings per share. Analysts expect that SkyWest will post 9.01 earnings per share for the current year.

Insider Activity at SkyWest

In other news, CFO Robert J. Simmons sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of the transaction, the chief financial officer now directly owns 175,067 shares in the company, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the sale, the vice president now directly owns 68,737 shares of the company’s stock, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKYW. First Citizens Bank & Trust Co. acquired a new position in shares of SkyWest during the 1st quarter worth $248,000. Financial Management Professionals Inc. acquired a new position in SkyWest during the first quarter worth about $27,000. NBC Securities Inc. acquired a new position in SkyWest during the first quarter worth about $32,000. Summit Global Investments lifted its holdings in shares of SkyWest by 22.6% in the first quarter. Summit Global Investments now owns 9,885 shares of the transportation company’s stock worth $864,000 after acquiring an additional 1,824 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of SkyWest by 9,644.5% in the 1st quarter. GAMMA Investing LLC now owns 152,111 shares of the transportation company’s stock valued at $13,290,000 after purchasing an additional 150,550 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

About SkyWest

(Get Free Report)

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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