SkyWest (SKYW) Upgraded at Zacks Investment Research

SkyWest (NASDAQ:SKYW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $63.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.31% from the company’s previous close.

According to Zacks, “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. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its nearly 17,000 employees. “

How to Become a New Pot Stock Millionaire

Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Cowen restated a “buy” rating and set a $60.00 price target on shares of SkyWest in a research note on Tuesday, January 9th. Imperial Capital boosted their price target on shares of SkyWest from $47.00 to $55.00 and gave the company an “in-line” rating in a research note on Tuesday, February 6th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Raymond James upped their target price on shares of SkyWest from $62.00 to $65.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. SkyWest has an average rating of “Buy” and a consensus price target of $60.00.

SKYW stock traded down $0.50 during midday trading on Thursday, reaching $56.60. 20,273 shares of the company’s stock traded hands, compared to its average volume of 264,503. The firm has a market capitalization of $2,913.42, a PE ratio of 16.50 and a beta of 1.68. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 1.36. SkyWest has a 52 week low of $31.75 and a 52 week high of $60.65.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. The business had revenue of $797.20 million during the quarter, compared to analyst estimates of $778.13 million. SkyWest had a net margin of 13.39% and a return on equity of 12.08%. SkyWest’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. equities analysts predict that SkyWest will post 4.41 earnings per share for the current fiscal year.

In other news, CFO Robert J. Simmons sold 39,339 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $55.94, for a total value of $2,200,623.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Woodward sold 4,500 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $56.90, for a total transaction of $256,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,639 shares of company stock valued at $2,781,474. Company insiders own 3.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Strs Ohio boosted its holdings in shares of SkyWest by 450.0% in the 4th quarter. Strs Ohio now owns 3,300 shares of the transportation company’s stock worth $175,000 after buying an additional 2,700 shares during the last quarter. Suntrust Banks Inc. purchased a new position in shares of SkyWest in the 4th quarter worth about $218,000. HBK Investments L P purchased a new position in shares of SkyWest in the 4th quarter worth about $218,000. Envestnet Asset Management Inc. lifted its holdings in SkyWest by 218.6% during the third quarter. Envestnet Asset Management Inc. now owns 5,069 shares of the transportation company’s stock valued at $223,000 after purchasing an additional 3,478 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in SkyWest during the fourth quarter valued at about $234,000. 89.68% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was reported by Week Herald and is owned by of Week Herald. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://weekherald.com/2018/04/19/skywest-skyw-upgraded-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on SkyWest (SKYW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SkyWest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply