SkyWest (NASDAQ:SKYW) Trading 3.5% Higher

SkyWest, Inc. (NASDAQ:SKYW)’s share price rose 3.5% during mid-day trading on Monday . The company traded as high as $79.72 and last traded at $79.46. Approximately 151,121 shares were traded during trading, a decline of 65% from the average daily volume of 436,029 shares. The stock had previously closed at $76.74.

Wall Street Analyst Weigh In

Several equities analysts have commented on SKYW shares. Evercore ISI boosted their price target on shares of SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. TD Cowen increased their price target on SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.67.

SkyWest Trading Up 2.5 %

The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 28.04 and a beta of 1.96. The business’s 50 day moving average is $79.90 and its 200 day moving average is $70.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.72.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.09. The business had revenue of $867.10 million for the quarter, compared to the consensus estimate of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, equities analysts expect that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal year.

Insider Transactions at SkyWest

In other SkyWest news, insider Wade J. Steel sold 15,000 shares of SkyWest stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $77.10, for a total value of $1,156,500.00. Following the transaction, the insider now directly owns 116,733 shares in the company, valued at approximately $9,000,114.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Wade J. Steel sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $77.10, for a total value of $1,156,500.00. Following the completion of the sale, the insider now owns 116,733 shares in the company, valued at approximately $9,000,114.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $79.08, for a total transaction of $158,160.00. Following the transaction, the director now owns 46,462 shares in the company, valued at $3,674,214.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,290 shares of company stock worth $7,282,611. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKYW. CWM LLC boosted its stake in shares of SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after acquiring an additional 279 shares in the last quarter. GAMMA Investing LLC raised its holdings in SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after purchasing an additional 292 shares during the last quarter. Quadrant Capital Group LLC boosted its position in SkyWest by 22.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company’s stock worth $110,000 after purchasing an additional 381 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in SkyWest by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,834 shares of the transportation company’s stock valued at $2,475,000 after purchasing an additional 482 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of SkyWest during the 4th quarter worth $26,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

About SkyWest

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.