SkyWest (NASDAQ:SKYW) had its price objective increased by Deutsche Bank from $70.00 to $75.00 in a research note published on Wednesday morning. Deutsche Bank currently has a buy rating on the transportation company’s stock.
Several other equities analysts have also recently issued reports on SKYW. Zacks Investment Research cut SkyWest from a hold rating to a sell rating in a research note on Monday, October 22nd. BidaskClub upgraded SkyWest from a strong sell rating to a sell rating in a research note on Tuesday. ValuEngine upgraded SkyWest from a hold rating to a buy rating in a research note on Saturday, July 28th. Evercore ISI upgraded SkyWest from an in-line rating to an outperform rating and set a $65.00 price objective for the company in a research note on Wednesday. Finally, Cowen lifted their price objective on SkyWest from $63.00 to $66.00 and gave the company an outperform rating in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $67.17.
Shares of SKYW traded down $0.51 during midday trading on Wednesday, hitting $55.86. The company had a trading volume of 324,827 shares, compared to its average volume of 329,610. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $2.98 billion, a PE ratio of 11.84 and a beta of 1.55. SkyWest has a 1 year low of $45.55 and a 1 year high of $65.80.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, September 27th. SkyWest’s payout ratio is 11.66%.
In related news, CEO Russell A. Childs sold 22,074 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $59.79, for a total transaction of $1,319,804.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Terry Vais sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $64.43, for a total value of $103,088.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,884 shares of company stock valued at $3,198,061. 3.50% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its stake in SkyWest by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 486,815 shares of the transportation company’s stock valued at $25,266,000 after buying an additional 16,932 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in SkyWest in the second quarter valued at approximately $1,749,000. OppenheimerFunds Inc. lifted its stake in SkyWest by 11.0% in the second quarter. OppenheimerFunds Inc. now owns 36,544 shares of the transportation company’s stock valued at $1,897,000 after buying an additional 3,612 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in SkyWest by 11.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 331,300 shares of the transportation company’s stock valued at $17,194,000 after buying an additional 35,000 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in SkyWest by 7.2% in the second quarter. BlackRock Inc. now owns 6,979,037 shares of the transportation company’s stock valued at $362,211,000 after buying an additional 470,480 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.
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.
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