Louisiana State Employees Retirement System Purchases Shares of 17,800 SkyWest, Inc. $SKYW

Louisiana State Employees Retirement System purchased a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 1st quarter, Holdings Channel.com reports. The fund purchased 17,800 shares of the transportation company’s stock, valued at approximately $1,635,000.

A number of other hedge funds have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of SkyWest by 480.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Transamerica Financial Advisors LLC lifted its stake in SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in SkyWest during the third quarter valued at about $62,000. EverSource Wealth Advisors LLC boosted its position in SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of SkyWest during the fourth quarter valued at about $83,000. 81.30% of the stock is currently owned by institutional investors.

SkyWest Stock Performance

Shares of NASDAQ:SKYW opened at $98.35 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $87.88 and a 200-day moving average price of $94.93. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.45. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $123.94.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.35. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $993.06 million. During the same period last year, the firm earned $2.42 earnings per share. SkyWest’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that SkyWest, Inc. will post 10.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SKYW shares. TD Cowen lowered their target price on SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Weiss Ratings downgraded SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Citigroup increased their price objective on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.00.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.