SkyWest (NASDAQ:SKYW) Hits New 52-Week High at $71.50

SkyWest, Inc. (NASDAQ:SKYW) reached a new 52-week high during trading on Monday . The stock traded as high as $71.50 and last traded at $71.46, with a volume of 242129 shares trading hands. The stock had previously closed at $69.13.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SKYW shares. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $68.00 in a research note on Monday, February 5th. Raymond James upped their price objective on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. Finally, Evercore ISI upped their price objective on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, SkyWest currently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

SkyWest Price Performance

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.90. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 85.41 and a beta of 1.95. The business has a fifty day moving average of $66.20 and a two-hundred day moving average of $54.52.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.31. The business had revenue of $751.80 million for the quarter, compared to analyst estimates of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.93) EPS. As a group, research analysts predict that SkyWest, Inc. will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, Director James L. Welch sold 2,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $133,440.00. Following the transaction, the director now directly owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYW. Quest Partners LLC acquired a new position in SkyWest in the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new position in SkyWest in the 4th quarter valued at $29,000. Strs Ohio acquired a new stake in shares of SkyWest during the 4th quarter worth $36,000. Transcendent Capital Group LLC acquired a new stake in shares of SkyWest during the 4th quarter worth $52,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of SkyWest during the 4th quarter worth $57,000. 81.30% of the stock is owned by institutional investors and hedge funds.

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.