SkyWest (NASDAQ:SKYW) Shares Down 4% – What’s Next?

SkyWest, Inc. (NASDAQ:SKYW)’s share price was down 4% on Monday . The company traded as low as $102.20 and last traded at $102.33. Approximately 111,676 shares changed hands during trading, a decline of 72% from the average daily volume of 396,621 shares. The stock had previously closed at $106.60.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SKYW. The Goldman Sachs Group restated a “neutral” rating and set a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. Raymond James upped their price objective on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen lifted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

SkyWest Stock Performance

The stock has a market cap of $4.22 billion, a P/E ratio of 18.22 and a beta of 1.96. The stock has a fifty day simple moving average of $103.76 and a 200-day simple moving average of $87.63. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $896.21 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 19.1% on a year-over-year basis. Equities analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Buying and Selling at SkyWest

In other SkyWest news, Director Ronald J. Mittelstaedt sold 25,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the completion of the transaction, the director now owns 11,283 shares in the company, valued at approximately $1,264,372.98. This represents a 68.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the sale, the chief accounting officer now owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,467 shares of company stock valued at $10,082,596. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in shares of SkyWest by 2.3% in the second quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock valued at $184,855,000 after acquiring an additional 51,180 shares during the last quarter. American Century Companies Inc. boosted 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 valued at $94,510,000 after buying an additional 165,670 shares during the last quarter. Geode Capital Management LLC increased its holdings in SkyWest by 0.7% during the third quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after buying an additional 6,542 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in SkyWest by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock worth $58,051,000 after acquiring an additional 76,007 shares in the last quarter. Finally, SW Investment Management LLC lifted its stake in SkyWest by 13.2% in the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after acquiring an additional 70,000 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.