Summit Global Investments Increases Holdings in SkyWest, Inc. $SKYW

Summit Global Investments grew its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 17.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,563 shares of the transportation company’s stock after acquiring an additional 1,678 shares during the quarter. Summit Global Investments’ holdings in SkyWest were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Soltis Investment Advisors LLC increased its position in SkyWest by 0.4% during the second quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock valued at $2,257,000 after acquiring an additional 95 shares during the last quarter. GK Wealth Management LLC boosted its position in SkyWest by 2.4% in the first quarter. GK Wealth Management LLC now owns 4,600 shares of the transportation company’s stock worth $402,000 after purchasing an additional 106 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of SkyWest by 0.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock valued at $1,225,000 after purchasing an additional 106 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of SkyWest by 3.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,133 shares of the transportation company’s stock valued at $426,000 after purchasing an additional 125 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of SkyWest by 38.4% during the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SKYW shares. TD Cowen raised their price objective on shares of SkyWest from $124.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cowen reissued a “buy” rating on shares of SkyWest in a research report on Friday, October 31st. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, SkyWest currently has an average rating of “Buy” and a consensus target price of $130.20.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $96.19 on Tuesday. The firm has a fifty day moving average price of $99.39 and a 200-day moving average price of $105.15. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The stock has a market cap of $3.86 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.95 and a beta of 1.86. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. SkyWest’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 EPS. Equities analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

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.