SkyWest (NASDAQ:SKYW) Trading Down 4% – What’s Next?

SkyWest, Inc. (NASDAQ:SKYW)’s stock price was down 4% during trading on Monday . The company traded as low as $102.20 and last traded at $102.33. Approximately 111,676 shares traded hands during trading, a decline of 72% from the average daily volume of 396,621 shares. The stock had previously closed at $106.60.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James lifted their target price on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. Finally, TD Cowen raised their price target on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, SkyWest currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

SkyWest Stock Down 1.8 %

The stock has a market cap of $4.22 billion, a P/E ratio of 18.22 and a beta of 1.96. The stock’s 50-day moving average is $103.76 and its 200-day moving average is $87.63. 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, topping analysts’ consensus estimates of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. As a group, research analysts anticipate that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Activity at SkyWest

In other SkyWest news, CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the completion of the sale, the chief financial officer now owns 113,539 shares of the company’s stock, valued at $11,923,865.78. This trade represents a 12.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of SkyWest by 90.2% during the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares during the last quarter. American Century Companies Inc. lifted its stake in SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after acquiring an additional 165,670 shares during the last quarter. FMR LLC grew its position in SkyWest by 42.2% in the third quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after acquiring an additional 143,661 shares in the last quarter. Barclays PLC increased its stake in shares of SkyWest by 563.8% during the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock worth $13,002,000 after purchasing an additional 129,901 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of SkyWest by 27.7% during the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after purchasing an additional 96,830 shares in the last quarter. Hedge funds and other institutional investors 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.