Louisiana State Employees Retirement System bought a new position in SkyWest, Inc. (NASDAQ:SKYW – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,800 shares of the transportation company’s stock, valued at approximately $1,635,000.
Several other hedge funds have also recently made changes to their positions in SKYW. Caitong International Asset Management Co. Ltd lifted its holdings in SkyWest by 480.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 216 shares during the last quarter. Transamerica Financial Advisors LLC increased its stake in shares of SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of SkyWest in the third quarter valued at approximately $62,000. EverSource Wealth Advisors LLC raised its position in shares of SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of SkyWest during the 4th quarter valued at approximately $83,000. 81.30% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on SKYW. Citigroup increased their price objective on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. TD Cowen reduced their price objective on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Weiss Ratings lowered shares of SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.00.
SkyWest Stock Performance
NASDAQ:SKYW opened at $98.35 on Thursday. The stock has a market cap of $3.90 billion, a P/E ratio of 9.43, a PEG ratio of 1.43 and a beta of 1.45. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $87.88 and its two-hundred day moving average price is $94.93. SkyWest, Inc. has a twelve month low of $77.89 and a twelve month high of $123.94.
SkyWest (NASDAQ:SKYW – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.15 by $0.35. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.SkyWest’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.42 earnings per share. As a group, equities analysts predict that SkyWest, Inc. will post 10.69 EPS for the current fiscal year.
SkyWest Profile
SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.
Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.
Recommended Stories
- Five stocks we like better than SkyWest
- AirJoule Unveils Prime System, Clearing Path to Commercialization
- Copper Stocks Are Getting a Bigger Spotlight as Gold’s Rally Cracks
- Nike Q4 Beat Masks Core Weakness as Analysts Cut Price Targets
- Uber’s Waymo Detour Tests the Stock’s Robotaxi Bull Case
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.
