The Goldman Sachs Group Reiterates “Neutral” Rating for SkyWest (NASDAQ:SKYW)

The Goldman Sachs Group reiterated their neutral rating on shares of SkyWest (NASDAQ:SKYW) in a research note released on Friday, Marketbeat.com reports. The Goldman Sachs Group currently has a $119.00 price objective on the transportation company’s stock.

A number of other research analysts have also recently weighed in on the stock. TD Cowen boosted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Raymond James upped their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

SkyWest Price Performance

SKYW stock opened at $111.33 on Friday. SkyWest has a 52 week low of $44.71 and a 52 week high of $116.47. The firm has a market capitalization of $4.49 billion, a P/E ratio of 19.03 and a beta of 1.93. The company has a fifty day simple moving average of $91.70 and a two-hundred day simple moving average of $82.58. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. The business had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. Analysts anticipate that SkyWest will post 7.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert J. Simmons sold 16,485 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the sale, the chief financial officer now owns 113,539 shares of the company’s stock, valued at $11,923,865.78. The trade was a 12.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA grew its position in shares of SkyWest by 0.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock worth $921,000 after buying an additional 98 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in SkyWest by 1.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after acquiring an additional 152 shares in the last quarter. Evergreen Capital Management LLC increased its position in SkyWest by 3.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock valued at $465,000 after purchasing an additional 213 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of SkyWest by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock valued at $1,803,000 after purchasing an additional 214 shares in the last quarter. Finally, CWM LLC lifted its position in shares of SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the period. 81.30% of the stock is owned by institutional investors.

About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.