Brokerages Set SkyWest, Inc. (NASDAQ:SKYW) PT at $67.63

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SkyWest, Inc. (NASDAQ:SKYW) has earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $67.63.

Several research firms have issued reports on SKYW. Evercore ISI reiterated a “buy” rating and issued a $72.00 target price on shares of SkyWest in a research note on Thursday, August 8th. BidaskClub cut shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, ValuEngine cut shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd.

SKYW opened at $58.67 on Friday. The company has a 50 day moving average of $57.46 and a 200 day moving average of $58.77. The company has a market cap of $2.97 billion, a PE ratio of 9.85 and a beta of 1.67. SkyWest has a 12 month low of $42.38 and a 12 month high of $63.40. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 1.45.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.11. SkyWest had a net margin of 10.53% and a return on equity of 15.47%. The company had revenue of $725.34 million during the quarter, compared to the consensus estimate of $736.71 million. During the same period last year, the firm earned $1.43 EPS. SkyWest’s revenue for the quarter was down 10.0% on a year-over-year basis. Research analysts forecast that SkyWest will post 6.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 30th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, September 27th. SkyWest’s dividend payout ratio (DPR) is currently 9.06%.

In related news, COO Michael B. Thompson sold 5,523 shares of SkyWest stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $60.19, for a total value of $332,429.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wade J. Steel sold 17,030 shares of SkyWest stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $60.02, for a total transaction of $1,022,140.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,553 shares of company stock worth $1,955,270. Corporate insiders own 3.60% of the company’s stock.

A number of large investors have recently modified their holdings of SKYW. Nuveen Asset Management LLC purchased a new position in SkyWest in the 2nd quarter worth $20,411,000. UBS Asset Management Americas Inc. raised its position in SkyWest by 1,281.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 226,803 shares of the transportation company’s stock worth $13,760,000 after purchasing an additional 210,386 shares during the period. Morgan Stanley raised its position in SkyWest by 58.1% in the 2nd quarter. Morgan Stanley now owns 361,008 shares of the transportation company’s stock worth $21,902,000 after purchasing an additional 132,691 shares during the period. Northern Trust Corp raised its position in SkyWest by 15.0% in the 2nd quarter. Northern Trust Corp now owns 814,355 shares of the transportation company’s stock worth $49,407,000 after purchasing an additional 106,262 shares during the period. Finally, Wells Fargo & Company MN raised its position in SkyWest by 11.3% in the 2nd quarter. Wells Fargo & Company MN now owns 798,247 shares of the transportation company’s stock worth $48,431,000 after purchasing an additional 80,725 shares during the period. Institutional investors own 90.12% 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.

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Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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