Zacks Investment Research Lowers SkyWest, Inc. (SKYW) to Hold

SkyWest, Inc. (NASDAQ:SKYW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “

A number of other analysts also recently weighed in on the company. ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded SkyWest from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. TheStreet upgraded SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. Finally, Cowen and Company reiterated an “outperform” rating and set a $44.00 target price (up from $40.00) on shares of SkyWest in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.67.

SkyWest (NASDAQ:SKYW) opened at 40.05 on Tuesday. The firm’s market capitalization is $2.08 billion. SkyWest has a 1-year low of $25.04 and a 1-year high of $40.25. The firm’s 50-day moving average price is $36.10 and its 200 day moving average price is $35.63.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, analysts predict that SkyWest will post $3.25 EPS for the current year.

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Several hedge funds have recently made changes to their positions in SKYW. Oppenheimer Asset Management Inc. lifted its position in shares of SkyWest by 108.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after buying an additional 1,488 shares during the last quarter. Bank of Montreal Can lifted its position in shares of SkyWest by 10.0% during the 1st quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock worth $126,000 after buying an additional 334 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of SkyWest during the 1st quarter worth $138,000. Riverhead Capital Management LLC lifted its position in shares of SkyWest by 81.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after buying an additional 1,862 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its position in shares of SkyWest by 73.1% during the 2nd quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock worth $192,000 after buying an additional 2,312 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

About SkyWest

SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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