SkyWest, Inc. (NASDAQ:SKYW) insider Wade J. Steel sold 17,030 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $60.02, for a total value of $1,022,140.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
NASDAQ SKYW traded up $1.94 during trading hours on Friday, hitting $62.22. 131,939 shares of the company’s stock were exchanged, compared to its average volume of 229,173. The business’s 50 day moving average is $57.57 and its 200-day moving average is $57.85. SkyWest, Inc. has a 12-month low of $42.38 and a 12-month high of $63.40. The firm has a market capitalization of $3.04 billion, a P/E ratio of 11.74 and a beta of 1.72. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.72 and a current ratio of 0.84.
SkyWest (NASDAQ:SKYW) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.11. SkyWest had a return on equity of 15.47% and a net margin of 10.53%. The firm had revenue of $725.34 million for the quarter, compared to the consensus estimate of $736.71 million. During the same period in the prior year, the business posted $1.43 earnings per share. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. As a group, equities research analysts anticipate that SkyWest, Inc. will post 6.18 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in SkyWest by 0.6% during the first quarter. BlackRock Inc. now owns 7,543,573 shares of the transportation company’s stock worth $409,541,000 after buying an additional 44,690 shares during the period. Northern Trust Corp lifted its position in SkyWest by 15.0% during the second quarter. Northern Trust Corp now owns 814,355 shares of the transportation company’s stock worth $49,407,000 after buying an additional 106,262 shares during the period. Wells Fargo & Company MN lifted its position in SkyWest by 11.3% during the second quarter. Wells Fargo & Company MN now owns 798,247 shares of the transportation company’s stock worth $48,431,000 after buying an additional 80,725 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its position in SkyWest by 1.6% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 764,062 shares of the transportation company’s stock worth $46,356,000 after buying an additional 11,680 shares during the period. Finally, Geode Capital Management LLC lifted its position in SkyWest by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 595,894 shares of the transportation company’s stock worth $26,499,000 after buying an additional 50,969 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.
SKYW has been the subject of several analyst reports. BidaskClub cut SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Evercore ISI reaffirmed a “buy” rating and set a $72.00 price objective on shares of SkyWest in a report on Thursday, August 8th. Finally, ValuEngine lowered SkyWest from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $67.63.
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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