SkyWest (SKYW) Stock Rating Lowered by BidaskClub

SkyWest (NASDAQ:SKYW) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities analysts have also weighed in on the company. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, November 22nd. Imperial Capital boosted their price target on SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 31st. Deutsche Bank boosted their price target on SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Cowen boosted their price target on SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, October 2nd. Finally, ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 18th. One analyst has rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $50.60.

SkyWest (NASDAQ SKYW) traded up $0.50 on Friday, reaching $52.65. The company’s stock had a trading volume of 675,045 shares, compared to its average volume of 258,067. The stock has a market cap of $2,703.59, a PE ratio of 16.56 and a beta of 1.77. SkyWest has a 52 week low of $30.40 and a 52 week high of $54.17. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.03. The business had revenue of $831.93 million for the quarter, compared to analyst estimates of $817.43 million. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. equities research analysts predict that SkyWest will post 3.32 EPS for the current year.

In other SkyWest news, insider Wade J. Steel sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total value of $211,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Terry Vais sold 12,075 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.52, for a total value of $622,104.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,239 shares of company stock worth $7,512,577. 3.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its stake in SkyWest by 181.5% during the 2nd quarter. Bank of Montreal Can now owns 10,345 shares of the transportation company’s stock worth $364,000 after buying an additional 6,670 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in SkyWest by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 71,788 shares of the transportation company’s stock worth $2,516,000 after buying an additional 2,164 shares during the last quarter. Sei Investments Co. grew its stake in SkyWest by 33.3% during the 2nd quarter. Sei Investments Co. now owns 130,541 shares of the transportation company’s stock worth $4,582,000 after buying an additional 32,595 shares during the last quarter. Rhumbline Advisers grew its stake in SkyWest by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 104,277 shares of the transportation company’s stock worth $3,660,000 after buying an additional 368 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in SkyWest by 1.5% during the 2nd quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock worth $325,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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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.

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