Raymond James Has Lowered Expectations for SkyWest (NASDAQ:SKYW) Stock Price

SkyWest (NASDAQ:SKYW) had its price objective decreased by Raymond James from $130.00 to $125.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

SkyWest Stock Up 3.1 %

Shares of NASDAQ SKYW opened at $90.83 on Wednesday. SkyWest has a 52-week low of $64.61 and a 52-week high of $135.57. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 11.69 and a beta of 2.00. The stock has a 50 day moving average price of $100.19 and a 200 day moving average price of $100.71. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same period in the previous year, the business posted $0.42 earnings per share. Sell-side analysts expect that SkyWest will post 9.01 earnings per share for the current year.

Insider Transactions at SkyWest

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $113.57, for a total value of $681,420.00. Following the transaction, the chief financial officer now owns 175,067 shares in the company, valued at $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Greg Wooley sold 14,545 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the sale, the vice president now directly owns 68,737 shares of the company’s stock, valued at approximately $7,267,563.01. The trade was a 17.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SKYW. Wilmington Savings Fund Society FSB acquired a new stake in SkyWest in the third quarter valued at approximately $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of SkyWest in the 4th quarter worth $39,000. Headlands Technologies LLC purchased a new position in SkyWest during the 4th quarter worth $45,000. Private Trust Co. NA increased its position in SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock valued at $49,000 after buying an additional 300 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in SkyWest in the fourth quarter valued at about $50,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Company Profile

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.