TD Cowen Boosts SkyWest (NASDAQ:SKYW) Price Target to $120.00

SkyWest (NASDAQ:SKYW) had its price target upped by equities research analysts at TD Cowen from $95.00 to $120.00 in a research report issued on Tuesday, MarketBeat reports. The firm presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective suggests a potential upside of 6.74% from the company’s previous close.

Separately, Raymond James lifted their target price on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SkyWest has a consensus rating of “Moderate Buy” and an average price target of $101.33.

SkyWest Price Performance

Shares of SKYW stock opened at $112.42 on Tuesday. The business’s fifty day moving average is $86.64 and its 200 day moving average is $80.67. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 19.22 and a beta of 1.93. SkyWest has a twelve month low of $41.96 and a twelve month high of $113.62.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 19.1% compared to the same quarter last year. Research analysts expect that SkyWest will post 7.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKYW. Victory Capital Management Inc. increased its position in shares of SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after acquiring an additional 261,349 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of SkyWest by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after purchasing an additional 165,670 shares in the last quarter. Millennium Management LLC raised its stake in shares of SkyWest by 27.7% in the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock worth $36,602,000 after purchasing an additional 96,830 shares during the last quarter. Nicholas Investment Partners LP lifted its holdings in shares of SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after purchasing an additional 85,356 shares in the last quarter. Finally, SW Investment Management LLC lifted its holdings in shares of SkyWest by 13.2% during the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after purchasing an additional 70,000 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.