Prudential Financial Inc. Cuts Position in SkyWest, Inc. $SKYW

Prudential Financial Inc. decreased its position in SkyWest, Inc. (NASDAQ:SKYW) by 18.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,424 shares of the transportation company’s stock after selling 34,469 shares during the quarter. Prudential Financial Inc. owned 0.37% of SkyWest worth $15,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of SkyWest in the first quarter valued at $37,474,000. Brandywine Global Investment Management LLC purchased a new position in shares of SkyWest in the 1st quarter worth $12,839,000. Panagora Asset Management Inc. increased its holdings in shares of SkyWest by 243.9% in the 1st quarter. Panagora Asset Management Inc. now owns 176,573 shares of the transportation company’s stock worth $15,427,000 after buying an additional 125,235 shares during the last quarter. Bandera Partners LLC increased its holdings in shares of SkyWest by 138.1% in the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company’s stock worth $18,260,000 after buying an additional 121,240 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of SkyWest by 8.3% during the 1st quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock valued at $131,572,000 after buying an additional 115,619 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

SkyWest Stock Up 1.9%

NASDAQ:SKYW opened at $101.22 on Thursday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 0.95 and a beta of 1.86. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $135.57. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $99.24 and a 200-day simple moving average of $105.12.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.56 by $0.25. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.16 EPS. Analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SKYW shares. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Cantor Fitzgerald set a $132.00 target price on SkyWest in a report on Friday, October 31st. Zacks Research raised SkyWest from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. TD Cowen increased their price target on SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, SkyWest currently has a consensus rating of “Buy” and a consensus price target of $130.20.

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.