SkyWest, Inc. (SKYW) Upgraded to “Strong-Buy” by ValuEngine
SkyWest, Inc. (NASDAQ:SKYW) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.
Other analysts also recently issued reports about the company. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, May 2nd. Cowen and Company raised their target price on SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. BidaskClub cut SkyWest from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, TheStreet upgraded SkyWest from a “c+” rating to a “b-” rating in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.67.
SkyWest (NASDAQ:SKYW) traded up 1.17% during trading on Tuesday, reaching $34.50. 404,923 shares of the company’s stock were exchanged. The company’s market cap is $1.79 billion. SkyWest has a 12-month low of $25.04 and a 12-month high of $39.85. The stock’s 50-day moving average is $36.34 and its 200-day moving average is $35.49.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The business had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. During the same period last year, the company earned $0.77 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts predict that SkyWest will post $3.26 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of SkyWest by 49,259.4% in the first quarter. BlackRock Inc. now owns 6,176,837 shares of the transportation company’s stock valued at $211,556,000 after buying an additional 6,164,323 shares during the period. Vanguard Group Inc. raised its stake in shares of SkyWest by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock valued at $206,868,000 after buying an additional 105,193 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of SkyWest by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,383,507 shares of the transportation company’s stock valued at $150,134,000 after buying an additional 16,894 shares during the period. Alliancebernstein L.P. raised its stake in shares of SkyWest by 3.9% in the first quarter. Alliancebernstein L.P. now owns 2,996,901 shares of the transportation company’s stock valued at $102,644,000 after buying an additional 111,979 shares during the period. Finally, State Street Corp raised its stake in shares of SkyWest by 7.2% in the first quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock valued at $47,093,000 after buying an additional 92,598 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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