TD Cowen Lowers SkyWest (NASDAQ:SKYW) Price Target to $122.00

SkyWest (NASDAQ:SKYW) had its price objective lowered by TD Cowen from $132.00 to $122.00 in a research report issued on Monday, Marketbeat reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 24.24% from the stock’s current price.

Several other analysts have also recently commented on SKYW. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Citigroup assumed coverage on shares of SkyWest in a report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald set a $132.00 price target on SkyWest in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, SkyWest has an average rating of “Moderate Buy” and an average target price of $123.83.

SkyWest Price Performance

NASDAQ SKYW opened at $98.20 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. The stock’s fifty day moving average price is $101.01 and its 200 day moving average price is $105.06. SkyWest has a 1 year low of $74.70 and a 1 year high of $135.57. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.69 and a beta of 1.66.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $2.16 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that SkyWest will post 9.01 earnings per share for the current year.

Insider Transactions at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the sale, the director owned 25,362 shares of the company’s stock, valued at approximately $2,702,067.48. This trade represents a 15.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH raised its position in shares of SkyWest by 214.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock valued at $25,332,000 after buying an additional 171,704 shares during the period. Millennium Management LLC raised its position in SkyWest by 90.6% in the third quarter. Millennium Management LLC now owns 351,149 shares of the transportation company’s stock valued at $35,333,000 after purchasing an additional 166,926 shares during the period. Owl Creek Asset Management L.P. purchased a new position in shares of SkyWest during the 2nd quarter worth $9,856,000. JPMorgan Chase & Co. increased its position in shares of SkyWest by 39.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 298,255 shares of the transportation company’s stock worth $30,011,000 after purchasing an additional 83,705 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of SkyWest during the 3rd quarter worth about $7,507,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.