SkyWest (NASDAQ:SKYW) Given New $120.00 Price Target at Raymond James

SkyWest (NASDAQ:SKYW) had its target price hoisted by Raymond James from $114.00 to $120.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other equities analysts have also issued reports on the company. TD Cowen boosted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.25.

SkyWest Price Performance

NASDAQ SKYW opened at $100.75 on Monday. The company has a market cap of $4.06 billion, a P/E ratio of 17.22 and a beta of 1.96. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest has a 1 year low of $48.28 and a 1 year high of $117.51. The company has a fifty day simple moving average of $106.16 and a 200 day simple moving average of $89.56.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.02% and a net margin of 7.29%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, sell-side analysts predict that SkyWest will post 7.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the transaction, the insider now owns 97,654 shares in the company, valued at $10,202,889.92. The trade was a 16.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of SkyWest stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the completion of the sale, the director now directly owns 11,283 shares of the company’s stock, valued at $1,264,372.98. This trade represents a 68.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

A number of institutional investors and hedge funds have recently modified their holdings of SKYW. Pitcairn Co. acquired a new position in shares of SkyWest in the 3rd quarter valued at $535,000. Nicholas Investment Partners LP increased its holdings in shares of SkyWest by 82.9% in the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after acquiring an additional 85,356 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of SkyWest in the 2nd quarter valued at approximately $520,000. Cornercap Investment Counsel Inc. bought a new position in SkyWest in the second quarter valued at approximately $1,044,000. Finally, Victory Capital Management Inc. increased its position in shares of SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after acquiring an additional 261,349 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

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.