SkyWest (SKYW) Given “In-Line” Rating at Imperial Capital

Imperial Capital reissued their in-line rating on shares of SkyWest (NASDAQ:SKYW) in a research note published on Friday, The Fly reports. Imperial Capital currently has a $58.00 price target on the transportation company’s stock.

Several other brokerages have also recently weighed in on SKYW. BidaskClub upgraded SkyWest from a sell rating to a hold rating in a report on Friday, August 17th. ValuEngine upgraded shares of SkyWest from a hold rating to a buy rating in a research note on Saturday, July 28th. Zacks Investment Research upgraded shares of SkyWest from a sell rating to a hold rating and set a $69.00 target price for the company in a research note on Monday, July 30th. Deutsche Bank raised their target price on shares of SkyWest from $70.00 to $75.00 and gave the company a buy rating in a research note on Wednesday. Finally, Raymond James raised their target price on shares of SkyWest from $69.00 to $70.00 and gave the company a strong-buy rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. SkyWest has a consensus rating of Hold and an average target price of $67.17.

Shares of NASDAQ SKYW traded down $0.51 during mid-day trading on Friday, hitting $55.86. The company had a trading volume of 324,827 shares, compared to its average volume of 323,521. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 11.54 and a beta of 1.56. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.15 and a quick ratio of 0.97. SkyWest has a one year low of $45.55 and a one year high of $65.80.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Tuesday, October 30th. The transportation company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.17. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $825.57 million. SkyWest had a return on equity of 13.99% and a net margin of 15.65%. SkyWest’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, sell-side analysts expect that SkyWest will post 5 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.72%. SkyWest’s dividend payout ratio (DPR) is currently 11.66%.

In related news, COO Michael B. Thompson sold 23,331 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $60.67, for a total value of $1,415,491.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Russell A. Childs sold 22,074 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $59.79, for a total transaction of $1,319,804.46. The disclosure for this sale can be found here. Insiders sold a total of 52,884 shares of company stock valued at $3,198,061 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in SkyWest by 7.2% during the second quarter. BlackRock Inc. now owns 6,979,037 shares of the transportation company’s stock worth $362,211,000 after acquiring an additional 470,480 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new stake in SkyWest during the second quarter worth approximately $19,399,000. Renaissance Technologies LLC lifted its position in SkyWest by 10.1% during the second quarter. Renaissance Technologies LLC now owns 2,160,068 shares of the transportation company’s stock worth $112,108,000 after acquiring an additional 199,000 shares during the last quarter. Wells Fargo & Company MN lifted its position in SkyWest by 26.5% during the third quarter. Wells Fargo & Company MN now owns 708,396 shares of the transportation company’s stock worth $41,724,000 after acquiring an additional 148,199 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in SkyWest during the second quarter worth approximately $6,298,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

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.

Read More: What is insider trading?

The Fly

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

Receive News & Ratings for SkyWest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply