SkyWest, Inc. (NASDAQ:SKYW) Receives $62.25 Consensus Target Price from Analysts

Shares of SkyWest, Inc. (NASDAQ:SKYW) have been assigned an average recommendation of “Moderate Buy” from the four brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $62.25.

SKYW has been the topic of several research analyst reports. TD Cowen raised shares of SkyWest from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $68.00 in a research report on Monday, February 5th. Raymond James boosted their price objective on shares of SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Evercore ISI upped their target price on SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, TheStreet raised SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd.

Insider Activity at SkyWest

In other SkyWest news, Director James L. Welch sold 2,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the sale, the director now directly owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SKYW. Quest Partners LLC purchased a new position in shares of SkyWest during the 4th quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new position in SkyWest in the fourth quarter valued at $29,000. Strs Ohio acquired a new position in shares of SkyWest in the fourth quarter worth about $36,000. Transcendent Capital Group LLC purchased a new stake in shares of SkyWest during the 4th quarter worth about $52,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of SkyWest during the 4th quarter valued at about $57,000. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Stock Up 3.3 %

SkyWest stock opened at $71.38 on Friday. SkyWest has a 1-year low of $23.37 and a 1-year high of $71.80. The business has a fifty day moving average price of $65.90 and a 200-day moving average price of $54.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 82.05 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.31. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The business had revenue of $751.80 million during the quarter, compared to the consensus estimate of $758.41 million. During the same quarter last year, the company earned ($0.93) earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts forecast that SkyWest will post 6.45 EPS for the current fiscal year.

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.