SkyWest (NASDAQ:SKYW) Sets New 12-Month High – Should You Buy?

SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week high on Wednesday . The company traded as high as $117.51 and last traded at $115.92, with a volume of 25447 shares. The stock had previously closed at $115.11.

Wall Street Analyst Weigh In

SKYW has been the topic of a number of recent research reports. Raymond James raised their price objective on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen raised their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.75.

SkyWest Stock Performance

The stock has a 50 day simple moving average of $96.55 and a 200 day simple moving average of $84.36. The stock has a market cap of $4.61 billion, a P/E ratio of 19.68 and a beta of 1.93. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The firm had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. On average, equities analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Insider Buying and Selling at SkyWest

In related news, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares of the company’s stock, valued at $38,964,115.56. This trade represents a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert J. Simmons sold 16,485 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total value of $1,731,254.70. Following the sale, the chief financial officer now directly owns 113,539 shares in the company, valued at approximately $11,923,865.78. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,467 shares of company stock valued at $10,082,596. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SkyWest

Several hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new stake in shares of SkyWest during the 3rd quarter valued at $648,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of SkyWest during the 3rd quarter valued at $31,000. Sanctuary Advisors LLC acquired a new stake in shares of SkyWest during the 3rd quarter valued at $233,000. Invst LLC boosted its holdings in shares of SkyWest by 39.1% during the 3rd quarter. Invst LLC now owns 5,405 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 1,520 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new position in SkyWest during the 3rd quarter worth $217,000. Institutional investors and hedge funds own 81.30% 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.