SkyWest, Inc. (NASDAQ:SKYW – Get Free Report) CEO Russell Childs sold 50,500 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $113.21, for a total transaction of $5,717,105.00. Following the sale, the chief executive officer directly owned 346,190 shares in the company, valued at $39,192,169.90. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
SkyWest Price Performance
Shares of NASDAQ SKYW opened at $106.97 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.57 and a quick ratio of 0.51. The business has a 50-day moving average of $94.74 and a 200-day moving average of $94.78. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.55 and a beta of 1.45. SkyWest, Inc. has a fifty-two week low of $77.89 and a fifty-two week high of $123.94.
SkyWest (NASDAQ:SKYW – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The transportation company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.16). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $2.91 earnings per share. As a group, sell-side analysts predict that SkyWest, Inc. will post 10.69 earnings per share for the current fiscal year.
Institutional Trading of SkyWest
Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in SkyWest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock worth $2,061,000 after acquiring an additional 1,034 shares during the last quarter. United Services Automobile Association bought a new position in shares of SkyWest during the first quarter worth approximately $227,000. M&T Bank Corp lifted its holdings in SkyWest by 7.6% during the 2nd quarter. M&T Bank Corp now owns 2,825 shares of the transportation company’s stock worth $290,000 after purchasing an additional 199 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in SkyWest by 8.8% in the 2nd quarter. First Trust Advisors LP now owns 85,577 shares of the transportation company’s stock valued at $8,812,000 after purchasing an additional 6,938 shares during the period. Institutional investors own 81.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on SKYW. TD Cowen raised their target price on shares of SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings raised shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. The Goldman Sachs Group cut SkyWest from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $126.00 to $115.00 in a report on Thursday, July 2nd. Finally, Citigroup boosted their price target on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and a consensus price target of $119.40.
Read Our Latest Stock Analysis on SKYW
About SkyWest
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.
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