Raymond James Raises SkyWest (NASDAQ:SKYW) Price Target to $114.00

SkyWest (NASDAQ:SKYW) had its price objective hoisted by research analysts at Raymond James from $100.00 to $114.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective points to a potential upside of 12.50% from the company’s previous close.

SkyWest Stock Performance

NASDAQ:SKYW opened at $101.33 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84. The stock has a market capitalization of $4.06 billion, a PE ratio of 17.32 and a beta of 1.93. SkyWest has a fifty-two week low of $41.96 and a fifty-two week high of $103.49. The company has a fifty day moving average of $84.84 and a two-hundred day moving average of $79.88.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.20%. 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 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, research analysts forecast that SkyWest will post 6.88 earnings per share for the current fiscal year.

Institutional Trading of SkyWest

Several large investors have recently made changes to their positions in the company. NBC Securities Inc. boosted its stake in SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after purchasing an additional 342 shares during the last quarter. Kings Path Partners LLC acquired a new stake in SkyWest in the 2nd quarter valued at about $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SkyWest in the 2nd quarter worth approximately $54,000. CWM LLC boosted its holdings in shares of SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of SkyWest by 45.9% in the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 292 shares in the last quarter. 81.30% of the stock is currently 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.