Legal & General Group Plc Acquires 758 Shares of SkyWest, Inc. $SKYW

Legal & General Group Plc raised its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 0.9% during the 2nd quarter, Holdings Channel reports. The fund owned 83,770 shares of the transportation company’s stock after purchasing an additional 758 shares during the period. Legal & General Group Plc’s holdings in SkyWest were worth $8,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of SkyWest by 38.4% during the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after purchasing an additional 153 shares during the last quarter. Blue Trust Inc. raised its holdings in SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after purchasing an additional 469 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of SkyWest during the second quarter valued at about $71,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SkyWest by 32.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock valued at $169,000 after buying an additional 473 shares in the last quarter. Finally, EMC Capital Management purchased a new position in shares of SkyWest in the 2nd quarter worth approximately $186,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Price Performance

NASDAQ SKYW opened at $99.29 on Tuesday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.95 and a beta of 1.86. 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’s fifty day moving average price is $99.05 and its 200 day moving average price is $105.10. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 16.69% and a net margin of 10.62%.The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 EPS. As a group, equities research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SKYW shares. Cantor Fitzgerald set a $132.00 target price on shares of SkyWest in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Zacks Research raised SkyWest from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. TD Cowen upped their target price on SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $130.20.

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.