Handelsbanken Fonder AB Decreases Stake in SkyWest, Inc. $SKYW

Handelsbanken Fonder AB lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,200 shares of the transportation company’s stock after selling 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in SkyWest were worth $1,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. EMC Capital Management acquired a new position in shares of SkyWest during the 2nd quarter worth approximately $186,000. Pinnacle Wealth Planning Services Inc. boosted its stake in SkyWest by 7.7% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 2,498 shares of the transportation company’s stock worth $257,000 after buying an additional 179 shares during the last quarter. Intrust Bank NA acquired a new position in SkyWest during the second quarter worth $346,000. ANB Bank purchased a new stake in SkyWest in the 2nd quarter valued at $234,000. Finally, Cetera Investment Advisers increased its stake in shares of SkyWest by 4.6% in the 2nd quarter. Cetera Investment Advisers now owns 27,202 shares of the transportation company’s stock worth $2,801,000 after acquiring an additional 1,200 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SKYW shares. Zacks Research raised shares of SkyWest from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. TD Cowen lifted their target price on shares of SkyWest from $124.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald set a $132.00 price objective on SkyWest in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $130.20.

SkyWest Trading Up 0.3%

NASDAQ SKYW opened at $101.50 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The stock has a market capitalization of $4.07 billion, a P/E ratio of 10.33, a PEG ratio of 0.95 and a beta of 1.86. The firm’s 50-day moving average is $99.12 and its two-hundred day moving average is $105.09. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. On average, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest 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.