SkyWest (NASDAQ:SKYW) Receives Neutral Rating from The Goldman Sachs Group

SkyWest (NASDAQ:SKYW)‘s stock had its “neutral” rating reissued by research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $119.00 target price on the transportation company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 7.39% from the stock’s previous close.

SKYW has been the topic of a number of other research reports. Raymond James upped their target price on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen lifted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

SkyWest Stock Performance

NASDAQ:SKYW opened at $110.81 on Friday. 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 has a twelve month low of $44.71 and a twelve month high of $116.47. The company has a fifty day moving average of $90.28 and a 200-day moving average of $82.06. The firm has a market capitalization of $4.47 billion, a P/E ratio of 18.94 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that SkyWest will post 7.16 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the sale, the chief accounting officer now directly owns 44,426 shares in the company, valued at approximately $4,954,831.78. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,467 shares of company stock valued at $10,082,596. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its stake in SkyWest by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock valued at $921,000 after buying an additional 98 shares during the period. Commonwealth Equity Services LLC grew its stake in SkyWest by 1.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after buying an additional 152 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of SkyWest by 3.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock worth $465,000 after buying an additional 213 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of SkyWest by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock valued at $1,803,000 after buying an additional 214 shares in the last quarter. Finally, CWM LLC lifted 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 acquiring an additional 279 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

About SkyWest

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.