SkyWest (SKYW) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of SkyWest (NASDAQ:SKYW) from a sell rating to a hold rating in a research note published on Wednesday.

SKYW has been the subject of a number of other research reports. ValuEngine raised SkyWest from a hold rating to a buy rating in a report on Saturday, July 28th. Imperial Capital upped their price objective on SkyWest from $60.00 to $63.00 and gave the company an inline rating in a research note on Monday, July 30th. Zacks Investment Research raised SkyWest from a sell rating to a hold rating and set a $69.00 price objective for the company in a research note on Monday, July 30th. Deutsche Bank upped their price objective on SkyWest from $70.00 to $75.00 and gave the company a buy rating in a research note on Wednesday, October 31st. Finally, Raymond James upped their price objective on SkyWest from $69.00 to $70.00 and gave the company a strong-buy rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of Buy and an average price target of $67.17.

SKYW stock traded up $0.25 during trading on Wednesday, reaching $57.97. 18,408 shares of the company were exchanged, compared to its average volume of 342,133. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 16.90 and a beta of 1.56. SkyWest has a twelve month low of $45.55 and a twelve month high of $65.80. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.15 and a quick ratio of 0.97.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Tuesday, October 30th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $825.57 million. SkyWest had a net margin of 15.65% and a return on equity of 13.99%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. On average, equities research analysts anticipate that SkyWest will post 5.09 EPS for the current fiscal year.

In related news, COO Terry Vais sold 1,600 shares of SkyWest stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $64.43, for a total value of $103,088.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Quadrant L P CA acquired a new position in shares of SkyWest during the third quarter valued at about $150,000. Everence Capital Management Inc. acquired a new position in SkyWest during the 3rd quarter valued at about $209,000. Meeder Asset Management Inc. boosted its stake in SkyWest by 403.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock valued at $187,000 after purchasing an additional 2,883 shares during the last quarter. Ifrah Financial Services Inc. acquired a new position in SkyWest during the 3rd quarter valued at about $213,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in SkyWest during the 3rd quarter valued at about $226,000. Hedge funds and other institutional investors own 89.72% of the company’s stock.

About SkyWest

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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