SkyWest (SKYW) Upgraded at BidaskClub

SkyWest (NASDAQ:SKYW) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

SKYW has been the subject of several other reports. Zacks Investment Research downgraded SkyWest from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Cowen reaffirmed a “buy” rating and set a $60.00 target price on shares of SkyWest in a research note on Tuesday, January 9th. Raymond James Financial upped their target price on SkyWest from $62.00 to $65.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Imperial Capital upped their target price on SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 31st. Finally, ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a hold rating, three have given a buy rating and four have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.00.

SkyWest (NASDAQ:SKYW) opened at $53.50 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.09 and a current ratio of 1.21. The firm has a market capitalization of $2,763.21, a P/E ratio of 6.63 and a beta of 1.78. SkyWest has a 52 week low of $30.40 and a 52 week high of $58.00.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, February 1st. The transportation company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10. The business had revenue of $797.20 million during the quarter, compared to the consensus estimate of $778.13 million. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. research analysts anticipate that SkyWest will post 4.39 earnings per share for the current year.

In related news, CEO Russell A. Childs sold 18,554 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $51.33, for a total value of $952,376.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry C. Atkin sold 110,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.10, for a total value of $5,291,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,105 shares of company stock valued at $6,941,421. 3.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SKYW. Bank of New York Mellon Corp raised its stake in SkyWest by 108.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,153,757 shares of the transportation company’s stock valued at $114,367,000 after purchasing an additional 1,119,617 shares during the last quarter. Victory Capital Management Inc. raised its stake in SkyWest by 87.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock valued at $62,340,000 after purchasing an additional 660,859 shares during the last quarter. BlackRock Inc. raised its stake in SkyWest by 2.8% in the 4th quarter. BlackRock Inc. now owns 6,459,519 shares of the transportation company’s stock valued at $343,000,000 after purchasing an additional 178,016 shares during the last quarter. RWC Asset Management LLP raised its stake in SkyWest by 82.1% in the 3rd quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock valued at $13,170,000 after purchasing an additional 135,211 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in SkyWest by 121.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,430 shares of the transportation company’s stock valued at $9,677,000 after purchasing an additional 120,740 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

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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.

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