Chicago Equity Partners LLC increased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 46.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,285 shares of the transportation company’s stock after purchasing an additional 15,580 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.09% of SkyWest worth $2,903,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its holdings in SkyWest by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 486,815 shares of the transportation company’s stock worth $25,266,000 after purchasing an additional 16,932 shares during the period. OppenheimerFunds Inc. raised its holdings in SkyWest by 11.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 36,544 shares of the transportation company’s stock worth $1,897,000 after purchasing an additional 3,612 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in SkyWest by 11.8% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 331,300 shares of the transportation company’s stock worth $17,194,000 after purchasing an additional 35,000 shares during the period. BlackRock Inc. raised its holdings in SkyWest by 7.2% in the 2nd quarter. BlackRock Inc. now owns 6,979,037 shares of the transportation company’s stock worth $362,211,000 after purchasing an additional 470,480 shares during the period. Finally, United Services Automobile Association raised its holdings in SkyWest by 63.0% in the 2nd quarter. United Services Automobile Association now owns 117,257 shares of the transportation company’s stock worth $6,086,000 after purchasing an additional 45,314 shares during the period. 89.72% of the stock is currently owned by institutional investors.
SKYW has been the topic of a number of recent analyst reports. BidaskClub raised SkyWest from a “sell” rating to a “hold” rating in a report on Wednesday. Imperial Capital reissued an “in-line” rating and set a $58.00 price target on shares of SkyWest in a report on Friday, November 2nd. Raymond James raised their price target on SkyWest from $69.00 to $70.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 31st. Deutsche Bank raised their price target on SkyWest from $70.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Evercore ISI raised SkyWest from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.17.
In related news, COO Terry Vais sold 1,600 shares of SkyWest stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $64.43, for a total value of $103,088.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.50% of the company’s stock.
SKYW opened at $56.60 on Friday. The stock has a market capitalization of $3.02 billion, a P/E ratio of 16.50 and a beta of 1.56. SkyWest, Inc. has a 12 month low of $45.65 and a 12 month high of $65.80. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 1.43.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Tuesday, October 30th. The transportation company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $825.57 million. SkyWest had a return on equity of 13.99% and a net margin of 15.65%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. Analysts anticipate that SkyWest, Inc. will post 5.09 earnings per share for the current year.
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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