SkyWest (NASDAQ:SKYW) Given New $120.00 Price Target at Raymond James

SkyWest (NASDAQ:SKYW) had its target price boosted by equities researchers at Raymond James from $114.00 to $120.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Raymond James’ target price points to a potential upside of 18.51% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. TD Cowen raised their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.25.

SkyWest Trading Down 2.4 %

NASDAQ SKYW opened at $101.26 on Monday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 17.31 and a beta of 1.96. The company’s fifty day moving average price is $106.06 and its two-hundred day moving average price is $89.40. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. SkyWest has a 12 month low of $48.28 and a 12 month high of $117.51.

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

Insider Buying and Selling

In other news, Director Ronald J. Mittelstaedt sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the completion of the transaction, the director now directly owns 11,283 shares in the company, valued at approximately $1,264,372.98. The trade was a 68.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the sale, the chief accounting officer now owns 44,426 shares in the company, valued at approximately $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SKYW. Wilmington Savings Fund Society FSB bought a new stake in shares of SkyWest during the third quarter valued at about $31,000. NBC Securities Inc. increased its stake in SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after buying an additional 342 shares during the period. GAMMA Investing LLC raised its position in shares of SkyWest by 47.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after buying an additional 437 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SkyWest in the 3rd quarter worth approximately $158,000. Finally, Millburn Ridgefield Corp bought a new position in shares of SkyWest in the third quarter valued at approximately $168,000. Institutional investors own 81.30% of the company’s stock.

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.