SkyWest, Inc. (NASDAQ:SKYW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “

SKYW has been the topic of several other reports. ValuEngine downgraded SkyWest from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 4th. Cowen and Company 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, BidaskClub downgraded SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. SkyWest currently has an average rating of “Buy” and a consensus price target of $44.17.

SkyWest (NASDAQ SKYW) traded down 0.11% during midday trading on Wednesday, reaching $45.70. The company’s stock had a trading volume of 151,282 shares. SkyWest has a 12 month low of $27.95 and a 12 month high of $47.60. The firm’s market capitalization is $2.37 billion. The stock’s 50-day moving average price is $39.81 and its 200-day moving average price is $36.66.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. The business had revenue of $809.76 million for the quarter, compared to the consensus estimate of $790.14 million. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. SkyWest’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. Analysts predict that SkyWest will post $3.25 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Phocas Financial Corp. lifted its stake in shares of SkyWest by 4.7% in the second quarter. Phocas Financial Corp. now owns 467,318 shares of the transportation company’s stock valued at $16,403,000 after buying an additional 20,857 shares during the period. U S Global Investors Inc. lifted its stake in shares of SkyWest by 71.7% in the second quarter. U S Global Investors Inc. now owns 101,691 shares of the transportation company’s stock valued at $3,712,000 after buying an additional 42,461 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of SkyWest in the second quarter valued at about $500,000. Piedmont Investment Advisors LLC lifted its stake in shares of SkyWest by 48.7% in the second quarter. Piedmont Investment Advisors LLC now owns 64,019 shares of the transportation company’s stock valued at $2,247,000 after buying an additional 20,961 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of SkyWest by 10.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after buying an additional 419 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.

About SkyWest

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.

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