SkyWest, Inc. (SKYW) Upgraded to Strong-Buy by ValuEngine

ValuEngine upgraded shares of SkyWest, Inc. (NASDAQ:SKYW) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

A number of other equities analysts also recently issued reports on the company. Imperial Capital began coverage on SkyWest in a research note on Friday, March 24th. They set an in-line rating and a $38.00 target price for the company. Zacks Investment Research downgraded SkyWest from a buy rating to a hold rating in a research note on Wednesday, March 15th. Raymond James Financial, Inc. raised SkyWest from an outperform rating to a strong-buy rating in a research note on Thursday, April 13th. Deutsche Bank AG increased their target price on SkyWest from $45.00 to $47.00 and gave the stock a buy rating in a research note on Friday, April 28th. Finally, TheStreet raised SkyWest from a c+ rating to a b- rating in a research note on Monday, May 22nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $40.80.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

SkyWest (SKYW) traded up 0.28% during mid-day trading on Friday, reaching $36.15. The company had a trading volume of 31,539 shares. The company’s market capitalization is $1.87 billion. The firm’s 50 day moving average price is $35.37 and its 200-day moving average price is $35.69. SkyWest has a 12 month low of $23.40 and a 12 month high of $39.85.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 27th. The transportation company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.13. The firm had revenue of $765.42 million during the quarter, compared to the consensus estimate of $745.95 million. SkyWest had a positive return on equity of 9.35% and a negative net margin of 5.18%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts anticipate that SkyWest will post $3.17 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Wednesday, June 28th. SkyWest’s dividend payout ratio is currently -6.37%.

In related news, COO Michael B. Thompson sold 4,700 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $35.32, for a total value of $166,004.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its stake in SkyWest by 14.5% in the third quarter. BlackRock Advisors LLC now owns 26,508 shares of the transportation company’s stock worth $700,000 after buying an additional 3,358 shares in the last quarter. Highbridge Capital Management LLC boosted its stake in SkyWest by 479.9% in the third quarter. Highbridge Capital Management LLC now owns 53,572 shares of the transportation company’s stock worth $1,415,000 after buying an additional 67,672 shares in the last quarter. Cetera Advisors LLC purchased a new stake in SkyWest during the third quarter worth $454,000. Phocas Financial Corp. boosted its stake in SkyWest by 6.6% in the third quarter. Phocas Financial Corp. now owns 467,903 shares of the transportation company’s stock worth $12,357,000 after buying an additional 28,873 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in SkyWest during the fourth quarter worth $10,651,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

About SkyWest

SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SKYW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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