SkyWest (SKYW) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. They currently have $63.00 target price on the transportation company’s stock.

According to Zacks, “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. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its nearly 17,000 employees. “

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Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of SkyWest from a hold rating to a buy rating in a report on Saturday, February 10th. Cowen reaffirmed a buy rating and set a $60.00 price target on shares of SkyWest in a research note on Tuesday, January 9th. Imperial Capital upped their price target on shares of SkyWest from $47.00 to $55.00 and gave the company an in-line rating in a research note on Tuesday, February 6th. ValuEngine raised shares of SkyWest from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Finally, Raymond James upped their price target on shares of SkyWest from $62.00 to $65.00 and gave the company a strong-buy rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $60.00.

SKYW stock opened at $56.35 on Thursday. SkyWest has a one year low of $31.75 and a one year high of $60.65. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $2,939.50, a PE ratio of 16.43 and a beta of 1.68.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, February 1st. The transportation company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.71 by $0.10. SkyWest had a net margin of 13.39% and a return on equity of 12.08%. The firm had revenue of $797.20 million for the quarter, compared to the consensus estimate of $778.13 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. equities research analysts predict that SkyWest will post 4.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Friday, March 30th were paid a dividend of $0.10 per share. This is an increase from SkyWest’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. SkyWest’s dividend payout ratio is presently 11.66%.

In related news, COO Terry Vais sold 5,800 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $56.00, for a total transaction of $324,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Woodward sold 4,500 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $56.90, for a total transaction of $256,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,639 shares of company stock worth $2,781,474. 3.50% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of SkyWest by 108.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,153,757 shares of the transportation company’s stock valued at $114,367,000 after acquiring an additional 1,119,617 shares during the period. Renaissance Technologies LLC raised its stake in shares of SkyWest by 19.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,863,468 shares of the transportation company’s stock valued at $98,950,000 after acquiring an additional 302,000 shares during the period. Teachers Advisors LLC raised its stake in shares of SkyWest by 226.2% in the fourth quarter. Teachers Advisors LLC now owns 383,802 shares of the transportation company’s stock valued at $20,380,000 after acquiring an additional 266,141 shares during the period. BlackRock Inc. raised its stake in shares of SkyWest by 2.8% in the fourth quarter. BlackRock Inc. now owns 6,459,519 shares of the transportation company’s stock valued at $343,000,000 after acquiring an additional 178,016 shares during the period. Finally, Eaton Vance Management purchased a new stake in shares of SkyWest in the fourth quarter valued at $5,847,000. 89.68% of the stock is currently owned by institutional investors.

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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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