SkyWest, Inc. (NASDAQ:SKYW) Stock Has Average Target Price of $111.40 According to Analysts

SkyWest, Inc. (NASDAQ:SKYW) has been given a consensus rating of “Hold” by the six analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $111.40.

A number of equities research analysts recently issued reports on SKYW shares. Deutsche Bank Aktiengesellschaft lowered SkyWest from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Friday, October 30th. Weiss Ratings raised SkyWest from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Zacks Research cut SkyWest from a “hold” rating to a “strong sell” rating in a research note on Tuesday. TD Cowen lowered their price objective on shares of SkyWest from $123.00 to $116.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Finally, Cantor Fitzgerald set a $116.00 target price on SkyWest in a research note on Friday, October 2nd.

SkyWest Trading Down 0.7%

NASDAQ:SKYW opened at $79.38 on Friday. The business’s 50-day moving average is $94.36 and its two-hundred day moving average is $95.68. The firm has a market capitalization of $3.02 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.61. SkyWest has a 12 month low of $77.68 and a 12 month high of $117.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.58 and a quick ratio of 0.46.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 29th. The transportation company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.01. SkyWest had a net margin of 9.70% and a return on equity of 14.52%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Research analysts predict that SkyWest will post 10.25 earnings per share for the current fiscal year.

SkyWest announced that its board has approved a stock buyback program on Thursday, July 23rd that authorizes the company to buy back $250 million in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKYW. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in SkyWest during the second quarter valued at approximately $1,738,000. Summit Global Investments bought a new stake in SkyWest during the second quarter worth about $1,172,000. Empowered Funds LLC purchased a new position in SkyWest in the 2nd quarter worth about $1,127,000. Bank of America Corp DE bought a new stake in shares of SkyWest in the 2nd quarter worth about $24,254,000. Finally, Squarepoint Ops LLC raised its position in shares of SkyWest by 9.5% in the 2nd quarter. Squarepoint Ops LLC now owns 78,826 shares of the transportation company’s stock valued at $7,830,000 after purchasing an additional 6,836 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is an airline holding company that operates regional passenger air service in the United States. Its primary subsidiary, SkyWest Airlines, connects smaller and midsized communities with larger airline hubs and provides scheduled flights under capacity-purchase agreements with major airline partners.

SkyWest Airlines operates flights under the United Express, Delta Connection and Alaska Airlines brands, serving destinations throughout the United States and select locations in Canada, Mexico and the Bahamas.