Key Points
- Insider sale: SkyWest director Wade Steel sold 7,371 shares on Feb 18 at an average of $107.56 for $792,824.76, cutting his stake by 6.99% to 98,067 shares; the transaction was disclosed in an SEC Form 4.
- Earnings update: SkyWest reported Q earnings of $2.21 EPS (missing the $2.25 consensus) while revenue rose to $1.02 billion, up 8.5% year-over-year.
- Market and analyst snapshot: SKYW traded around $102.36 with a $4.14B market cap and a P/E of 9.89, and analysts have an average rating of "Moderate Buy" with a $123.83 target; institutional investors own about 81.3% of shares.
SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) insider Wade Steel sold 7,371 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $107.56, for a total value of $792,824.76. Following the transaction, the insider owned 98,067 shares of the company's stock, valued at approximately $10,548,086.52. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
SkyWest Trading Up 0.4%
NASDAQ SKYW traded up $0.41 on Friday, reaching $102.36. The stock had a trading volume of 41,131 shares, compared to its average volume of 264,114. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $123.94. The stock has a fifty day moving average price of $101.82 and a two-hundred day moving average price of $103.95. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 0.70 and a beta of 1.65. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.67.
SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. SkyWest had a return on equity of 16.35% and a net margin of 10.56%.SkyWest's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 EPS. As a group, sell-side analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SKYW has been the topic of a number of analyst reports. Zacks Research cut SkyWest from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 target price on SkyWest in a research report on Monday, January 26th. Citigroup started coverage on SkyWest in a report on Thursday, December 4th. They issued a "neutral" rating and a $112.00 price target for the company. TD Cowen cut their price objective on shares of SkyWest from $132.00 to $122.00 and set a "buy" rating on the stock in a report on Monday, January 26th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of SkyWest in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $123.83.
Read Our Latest Research Report on SKYW
Hedge Funds Weigh In On SkyWest
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. lifted its stake in shares of SkyWest by 27.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company's stock valued at $118,981,000 after purchasing an additional 255,408 shares during the period. Allianz Asset Management GmbH lifted its holdings in SkyWest by 214.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company's stock valued at $25,332,000 after purchasing an additional 171,704 shares in the last quarter. Millennium Management LLC grew its holdings in shares of SkyWest by 90.6% during the third quarter. Millennium Management LLC now owns 351,149 shares of the transportation company's stock worth $35,333,000 after buying an additional 166,926 shares in the last quarter. Vanguard Group Inc. raised its holdings in SkyWest by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company's stock valued at $498,685,000 after acquiring an additional 152,863 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in SkyWest in the fourth quarter valued at $13,825,000. Institutional investors and hedge funds own 81.30% of the company's stock.
SkyWest Company Profile
(
Get Free Report)
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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