SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) insider Wade Steel sold 20,629 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the completion of the transaction, the insider directly owned 77,438 shares of the company's stock, valued at approximately $8,249,470.14. This represents a 21.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
SkyWest Trading Up 0.9%
NASDAQ SKYW opened at $108.71 on Friday. The company has a fifty day moving average of $102.01 and a 200 day moving average of $103.78. The company has a market capitalization of $4.39 billion, a PE ratio of 10.50, a P/E/G ratio of 0.72 and a beta of 1.65. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $123.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.55.
SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $993.12 million. During the same period last year, the firm earned $2.34 earnings per share. SkyWest's revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have recently commented on SKYW. Citigroup began coverage on shares of SkyWest in a research report on Thursday, December 4th. They set a "neutral" rating and a $112.00 price target on the stock. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research report on Monday, January 26th. TD Cowen reduced their price target on shares of SkyWest from $132.00 to $122.00 and set a "buy" rating on the stock in a research note on Monday, January 26th. Wall Street Zen cut shares of SkyWest from a "buy" rating to a "hold" rating in a research report on Saturday, November 1st. Finally, Zacks Research downgraded shares of SkyWest from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.83.
Get Our Latest Analysis on SKYW
Institutional Trading of SkyWest
Hedge funds and other institutional investors have recently made changes to their positions in the company. Transamerica Financial Advisors LLC lifted its stake in SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company's stock valued at $27,000 after buying an additional 197 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in SkyWest during the 3rd quarter worth approximately $38,000. Elevation Point Wealth Partners LLC acquired a new stake in SkyWest in the second quarter valued at $40,000. Johnson Financial Group Inc. purchased a new stake in SkyWest during the third quarter worth about $62,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company's stock worth $64,000 after acquiring an additional 339 shares during the period. 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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