SkyWest (NASDAQ:SKYW) Reaches New 1-Year High Following Analyst Upgrade

SkyWest, Inc. (NASDAQ:SKYW) reached a new 52-week high on Tuesday after TD Cowen raised their price target on the stock from $95.00 to $120.00. TD Cowen currently has a buy rating on the stock. SkyWest traded as high as $105.38 and last traded at $104.00, with a volume of 27747 shares traded. The stock had previously closed at $99.24.

Separately, Raymond James upped their target price on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Institutional Trading of SkyWest

A number of institutional investors and hedge funds have recently modified their holdings of SKYW. NBC Securities Inc. grew its holdings in shares of SkyWest by 1,368.0% in the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after purchasing an additional 342 shares during the last quarter. Kings Path Partners LLC bought a new position in SkyWest in the 2nd quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SkyWest in the second quarter valued at about $54,000. CWM LLC increased its position in SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 292 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

SkyWest Price Performance

The company has a fifty day simple moving average of $85.31 and a two-hundred day simple moving average of $80.20. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $4.20 billion, a P/E ratio of 16.96 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. During the same quarter in the prior year, the business posted $0.55 EPS. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. Sell-side analysts expect that SkyWest, Inc. will post 6.96 EPS for the current fiscal year.

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.