ValuEngine Downgrades SkyWest (NASDAQ:SKYW) to Strong Sell

ValuEngine cut shares of SkyWest (NASDAQ:SKYW) from a sell rating to a strong sell rating in a report published on Thursday, ValuEngine reports.

Several other brokerages have also commented on SKYW. Argus raised SkyWest from a hold rating to a buy rating in a research note on Thursday, March 12th. Goldman Sachs Group raised SkyWest from a neutral rating to a buy rating and reduced their price objective for the stock from $73.00 to $58.00 in a research note on Monday, March 16th. BidaskClub raised SkyWest from a strong sell rating to a sell rating in a research note on Tuesday, March 24th. Stifel Nicolaus reissued a buy rating and issued a $55.00 price objective on shares of SkyWest in a research note on Thursday, March 12th. Finally, Cowen reissued a buy rating and issued a $72.00 price objective on shares of SkyWest in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. SkyWest has a consensus rating of Buy and a consensus price target of $65.13.

SKYW stock traded up $2.51 during trading on Thursday, hitting $22.49. The company had a trading volume of 930,956 shares, compared to its average volume of 654,499. The company has a fifty day moving average price of $38.28 and a two-hundred day moving average price of $55.35. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 1.33. The company has a market cap of $1.00 billion, a P/E ratio of 3.40 and a beta of 1.94. SkyWest has a fifty-two week low of $10.58 and a fifty-two week high of $66.52.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.02. The business had revenue of $743.59 million for the quarter, compared to analyst estimates of $737.39 million. SkyWest had a return on equity of 15.39% and a net margin of 11.44%. SkyWest’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, analysts expect that SkyWest will post 4.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.49%. This is an increase from SkyWest’s previous quarterly dividend of $0.12. SkyWest’s payout ratio is presently 8.96%.

In other news, Director Jerry C. Atkin bought 15,500 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $37.90 per share, for a total transaction of $587,450.00. Following the completion of the transaction, the director now directly owns 430,801 shares in the company, valued at approximately $16,327,357.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert J. Simmons bought 4,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $25.64 per share, with a total value of $102,560.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 31,287 shares of company stock valued at $991,050. 2.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Archer Investment Corp bought a new stake in shares of SkyWest during the fourth quarter worth $33,000. Tower Research Capital LLC TRC bought a new stake in SkyWest in the third quarter valued at about $39,000. Atlas Private Wealth Management bought a new stake in SkyWest in the fourth quarter valued at about $70,000. Meeder Asset Management Inc. increased its holdings in SkyWest by 93.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,249 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 603 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in SkyWest in the fourth quarter valued at about $84,000. Institutional investors own 92.89% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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