TD Cowen Cuts SkyWest (NASDAQ:SKYW) Price Target to $122.00

SkyWest (NASDAQ:SKYW) had its target price reduced by TD Cowen from $132.00 to $122.00 in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the transportation company’s stock.

SKYW has been the topic of several other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald set a $132.00 target price on SkyWest in a report on Friday, October 31st. Citigroup initiated coverage on SkyWest in a report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price target for the company. Finally, Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

SkyWest Price Performance

Shares of NASDAQ:SKYW opened at $97.48 on Monday. SkyWest has a twelve month low of $74.70 and a twelve month high of $135.57. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 0.70. The company has a market cap of $3.91 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.68 and a beta of 1.66. The company’s 50 day moving average is $101.09 and its 200 day moving average is $105.01.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.56 by $0.25. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 EPS. On average, sell-side analysts forecast that SkyWest will post 9.01 EPS for the current year.

Insider Transactions at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the sale, the director owned 25,362 shares of the company’s stock, valued at approximately $2,702,067.48. This trade represents a 15.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYW. California State Teachers Retirement System increased its stake in shares of SkyWest by 0.8% during the second quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after purchasing an additional 87 shares in the last quarter. Soltis Investment Advisors LLC increased its stake in SkyWest by 0.4% during the 2nd quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock worth $2,257,000 after buying an additional 95 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in SkyWest by 4.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock worth $257,000 after buying an additional 100 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of SkyWest by 0.9% during the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock valued at $1,225,000 after acquiring an additional 106 shares during the last quarter. Finally, CWM LLC lifted its position in shares of SkyWest by 1.7% in the fourth quarter. CWM LLC now owns 6,601 shares of the transportation company’s stock valued at $663,000 after acquiring an additional 108 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.