SkyWest (NASDAQ:SKYW) Rating Lowered to “Hold” at StockNews.com

SkyWest (NASDAQ:SKYW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also weighed in on the company. Raymond James reduced their target price on SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. The Goldman Sachs Group raised SkyWest from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $119.00 to $117.00 in a research report on Tuesday, April 8th.

SkyWest Trading Up 1.9 %

NASDAQ:SKYW opened at $86.31 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. SkyWest has a 1-year low of $64.61 and a 1-year high of $135.57. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.11 and a beta of 1.83. The business’s 50-day moving average price is $94.34 and its two-hundred day moving average price is $100.86.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that SkyWest will post 9.01 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On SkyWest

Several large investors have recently modified their holdings of SKYW. XTX Topco Ltd grew its stake in SkyWest by 90.5% in the 3rd quarter. XTX Topco Ltd now owns 5,976 shares of the transportation company’s stock valued at $508,000 after buying an additional 2,839 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in SkyWest during the 3rd quarter worth approximately $637,000. Barclays PLC boosted its stake in SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after purchasing an additional 129,901 shares during the period. Geode Capital Management LLC grew its holdings in SkyWest by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock valued at $81,697,000 after buying an additional 6,542 shares in the last quarter. Finally, Invst LLC increased its position in SkyWest by 39.1% during the 3rd quarter. Invst LLC now owns 5,405 shares of the transportation company’s stock worth $460,000 after buying an additional 1,520 shares during the period. 81.30% of the stock is owned by institutional investors.

About SkyWest

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.