Citigroup Cuts SkyWest (NASDAQ:SKYW) Price Target to $101.00

SkyWest (NASDAQ:SKYW) had its price objective lowered by Citigroup from $112.00 to $101.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, TD Cowen decreased their price objective on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, SkyWest has an average rating of “Moderate Buy” and an average target price of $122.00.

SkyWest Stock Down 1.6%

SKYW opened at $87.89 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.55. SkyWest has a 12 month low of $74.70 and a 12 month high of $123.94. The stock has a market capitalization of $3.55 billion, a P/E ratio of 8.49, a P/E/G ratio of 1.18 and a beta of 1.58. The business has a 50 day simple moving average of $99.47 and a 200-day simple moving average of $100.76.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 EPS. On average, equities analysts anticipate that SkyWest will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 20,629 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the sale, the insider owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. This represents a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several institutional investors and hedge funds have recently made changes to their positions in SKYW. Vanguard Group Inc. grew its stake in SkyWest by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock valued at $498,685,000 after acquiring an additional 152,863 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SkyWest by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,508,655 shares of the transportation company’s stock worth $251,895,000 after acquiring an additional 22,110 shares during the last quarter. American Century Companies Inc. raised its position in SkyWest by 3.0% during the third quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock worth $162,209,000 after acquiring an additional 46,744 shares during the last quarter. State Street Corp lifted its holdings in shares of SkyWest by 0.5% in the fourth quarter. State Street Corp now owns 1,517,700 shares of the transportation company’s stock valued at $152,392,000 after purchasing an additional 8,117 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of SkyWest by 27.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after purchasing an additional 255,408 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.