SkyWest (SKYW) Stock Rating Upgraded by BidaskClub

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BidaskClub upgraded shares of SkyWest (NASDAQ:SKYW) from a strong sell rating to a sell rating in a research report report published on Tuesday morning.

Several other research analysts have also issued reports on the company. Zacks Investment Research lowered SkyWest from a hold rating to a sell rating in a research report on Monday, October 22nd. ValuEngine lowered SkyWest from a buy rating to a hold rating in a research report on Wednesday, September 19th. Imperial Capital raised their price objective on SkyWest from $60.00 to $63.00 and gave the company an inline rating in a research report on Monday, July 30th. Finally, Cowen raised their price objective on SkyWest from $63.00 to $66.00 and gave the company an outperform rating in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $65.75.

Shares of NASDAQ:SKYW opened at $51.26 on Tuesday. SkyWest has a 52-week low of $45.55 and a 52-week high of $65.80. The company has a market capitalization of $2.60 billion, a PE ratio of 14.94 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.11 and a quick ratio of 0.97.

SkyWest (NASDAQ:SKYW) last announced its 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. SkyWest had a return on equity of 13.20% and a net margin of 14.73%. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $825.57 million. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that SkyWest will post 4.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, September 27th. SkyWest’s dividend payout ratio (DPR) is presently 11.66%.

In related news, insider Eric Woodward sold 5,879 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $61.18, for a total transaction of $359,677.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael B. Thompson sold 23,331 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $60.67, for a total value of $1,415,491.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,940 shares of company stock valued at $4,219,716. 3.60% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new stake in shares of SkyWest in the 1st quarter worth $105,000. First Quadrant L P CA bought a new stake in shares of SkyWest in the 3rd quarter worth $150,000. Meeder Asset Management Inc. increased its holdings in shares of SkyWest by 403.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock worth $187,000 after purchasing an additional 2,883 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of SkyWest in the 3rd quarter worth $209,000. Finally, Burney Co. bought a new stake in shares of SkyWest in the 2nd quarter worth $229,000. 89.71% of the stock is owned by institutional investors and hedge funds.

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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