SkyWest (SKYW) Receives “Buy” Rating from Cowen

Cowen reissued their buy rating on shares of SkyWest (NASDAQ:SKYW) in a report released on Tuesday morning. Cowen currently has a $60.00 target price on the transportation company’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of SkyWest from a hold rating to a buy rating and set a $52.00 price objective on the stock in a research note on Thursday, November 9th. Deutsche Bank lifted their price target on shares of SkyWest from $47.00 to $55.00 and gave the stock a buy rating in a research report on Thursday, October 26th. BidaskClub cut shares of SkyWest from a strong-buy rating to a buy rating in a research report on Friday, December 15th. Finally, Imperial Capital lifted their price target on shares of SkyWest from $38.00 to $47.00 and gave the stock an in-line rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of Buy and a consensus price target of $52.20.

SkyWest (NASDAQ SKYW) opened at $54.75 on Tuesday. SkyWest has a 52 week low of $30.40 and a 52 week high of $55.15. The stock has a market cap of $2,850.00, a P/E ratio of -21.06 and a beta of 1.77. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm had revenue of $831.93 million for the quarter, compared to analysts’ expectations of $817.43 million. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. equities research analysts predict that SkyWest will post 3.32 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 29th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. SkyWest’s dividend payout ratio is -12.31%.

In related news, Director Jerry C. Atkin sold 110,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.10, for a total value of $5,291,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Russell A. Childs sold 1,766 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,239 shares of company stock worth $7,512,577. Insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SKYW. Victory Capital Management Inc. lifted its position in SkyWest by 87.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock valued at $62,340,000 after acquiring an additional 660,859 shares in the last quarter. RWC Asset Management LLP lifted its position in SkyWest by 82.1% in the 3rd quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock valued at $13,170,000 after acquiring an additional 135,211 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in SkyWest by 121.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,430 shares of the transportation company’s stock valued at $9,677,000 after acquiring an additional 120,740 shares in the last quarter. Renaissance Technologies LLC lifted its position in SkyWest by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock valued at $45,479,000 after acquiring an additional 117,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in SkyWest by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock valued at $206,868,000 after acquiring an additional 105,193 shares in the last quarter. 90.75% of the stock is currently owned by institutional investors and hedge funds.

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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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