SkyWest (SKYW) Upgraded at BidaskClub

BidaskClub upgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a buy rating in a report issued on Saturday, BidAskClub reports.

SKYW has been the subject of a number of other research reports. Zacks Investment Research upgraded SkyWest from a hold rating to a strong-buy rating and set a $56.00 price target for the company in a report on Monday, January 21st. ValuEngine upgraded SkyWest from a sell rating to a hold rating in a report on Saturday, March 30th. Imperial Capital reiterated an outperform rating and set a $69.00 price target (up previously from $63.00) on shares of SkyWest in a report on Monday, February 4th. Finally, Cowen reiterated an outperform rating and set a $61.00 price target (down previously from $66.00) on shares of SkyWest in a report on Thursday, January 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $65.86.

SkyWest stock opened at $58.22 on Friday. SkyWest has a 52 week low of $42.38 and a 52 week high of $65.80. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.10 and a quick ratio of 0.97. The stock has a market cap of $3.03 billion, a P/E ratio of 10.98 and a beta of 1.75.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 31st. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.20. SkyWest had a return on equity of 14.87% and a net margin of 8.70%. The business had revenue of $803.49 million during the quarter, compared to analysts’ expectations of $789.62 million. As a group, sell-side analysts predict that SkyWest will post 5.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 29th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, March 28th. This is a boost from SkyWest’s previous quarterly dividend of $0.10. SkyWest’s payout ratio is currently 9.06%.

In other news, Director Jerry C. Atkin sold 19,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.00, for a total transaction of $1,092,000.00. Following the completion of the sale, the director now owns 696,232 shares in the company, valued at $38,988,992. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jerry C. Atkin sold 8,275 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $56.56, for a total value of $468,034.00. Following the sale, the director now owns 697,957 shares of the company’s stock, valued at approximately $39,476,447.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,775 shares of company stock valued at $2,680,834. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYW. AdvisorNet Financial Inc raised its position in shares of SkyWest by 23.4% in the fourth quarter. AdvisorNet Financial Inc now owns 1,553 shares of the transportation company’s stock valued at $69,000 after buying an additional 295 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of SkyWest by 17.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,153 shares of the transportation company’s stock valued at $140,000 after buying an additional 458 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of SkyWest by 924.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the transportation company’s stock valued at $160,000 after buying an additional 2,451 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of SkyWest in the third quarter valued at approximately $204,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of SkyWest in the fourth quarter valued at approximately $224,000. Institutional investors own 90.84% of the company’s stock.

SkyWest Company Profile

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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Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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