Allspring Global Investments Holdings LLC Raises Holdings in SkyWest, Inc. $SKYW

Allspring Global Investments Holdings LLC grew its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 21.6% in the first quarter, Holdings Channel.com reports. The fund owned 215,017 shares of the transportation company’s stock after purchasing an additional 38,135 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SkyWest were worth $20,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. California State Teachers Retirement System lifted its position in SkyWest by 0.8% during the second quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock valued at $1,150,000 after buying an additional 87 shares in the last quarter. Maryland State Retirement & Pension System increased its position in shares of SkyWest by 1.7% in the fourth quarter. Maryland State Retirement & Pension System now owns 5,901 shares of the transportation company’s stock worth $593,000 after acquiring an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of SkyWest by 1.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,192 shares of the transportation company’s stock worth $923,000 after acquiring an additional 100 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of SkyWest by 4.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock valued at $257,000 after acquiring an additional 100 shares during the period. Finally, CWM LLC lifted its holdings in shares of SkyWest by 1.7% during the 4th quarter. CWM LLC now owns 6,601 shares of the transportation company’s stock valued at $663,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Trading Up 2.2%

NASDAQ:SKYW opened at $99.34 on Tuesday. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. SkyWest, Inc. has a one year low of $77.89 and a one year high of $123.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.51 and a current ratio of 0.62. The business’s 50-day simple moving average is $90.91 and its 200 day simple moving average is $94.49.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $993.06 million. During the same quarter last year, the firm earned $2.42 EPS. SkyWest’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that SkyWest, Inc. will post 10.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SKYW shares. TD Cowen upped their price target on shares of SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Citigroup boosted their price objective on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group downgraded SkyWest from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $115.00 in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.17.

SkyWest 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.