SkyWest, Inc. (NASDAQ:SKYW – Get Free Report)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $116.76, but opened at $122.00. SkyWest shares last traded at $134.58, with a volume of 94,408 shares.
The transportation company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. During the same quarter in the prior year, the business posted $0.42 earnings per share.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SKYW. Raymond James increased their target price on SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. Finally, TD Cowen boosted their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.25.
Insider Buying and Selling at SkyWest
In other news, CAO Eric Woodward sold 4,000 shares of the stock in a transaction dated 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. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Russell A. Childs sold 27,903 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the transaction, the chief executive officer now owns 349,548 shares in the company, valued at approximately $38,964,115.56. This trade represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,467 shares of company stock worth $10,082,596. Corporate insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of SKYW. Wilmington Savings Fund Society FSB bought a new position in SkyWest during the third quarter valued at about $31,000. NBC Securities Inc. raised its position in SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after acquiring an additional 342 shares during the period. Sound Income Strategies LLC purchased a new position in SkyWest in the fourth quarter valued at about $50,000. USA Financial Formulas grew its position in shares of SkyWest by 63.7% during the 4th quarter. USA Financial Formulas now owns 1,180 shares of the transportation company’s stock valued at $118,000 after acquiring an additional 459 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of SkyWest by 47.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.
SkyWest Stock Performance
The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The company has a market cap of $5.12 billion, a PE ratio of 21.92 and a beta of 1.98. The company’s 50 day moving average price is $108.59 and its 200-day moving average price is $93.81.
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.
See Also
- Five stocks we like better than SkyWest
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- 3 Turnaround Stocks in the Early Innings With More Upside to Come
- Top Biotech Stocks: Exploring Innovation Opportunities
- Whirlpool: Buy This High-Yielding Value Before It Spins Higher
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Commvault Systems: Share Price Primed to Vault Higher in 2025
Receive News & Ratings for SkyWest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest and related companies with MarketBeat.com's FREE daily email newsletter.