Sky Harbour Group (NYSE:SKYH) Receives "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Sky Harbour Group and set a $13.00 price target, implying approximately 29.35% upside from the reported $10.05 share price.
• Analyst sentiment remains broadly positive, with an average rating of “Buy” and a consensus price target of $12.75. Ratings include two Strong Buys, two Buys, and one Hold.
• Sky Harbour reported quarterly EPS of -$0.04, beating the consensus estimate of -$0.14, though revenue of $0.01 million fell well short of the $9.44 million estimate. Director Andrew Gessow also purchased 5,000 shares, increasing his position by 27.92%.

Sky Harbour Group (NYSE:SKYH - Get Free Report)'s stock had its "buy" rating restated by stock analysts at BTIG Research in a report released on Monday, Benzinga reports. They presently have a $13.00 target price on the stock. BTIG Research's price objective suggests a potential upside of 29.35% from the company's current price.

A number of other equities analysts have also recently issued reports on the stock. Noble Financial raised shares of Sky Harbour Group to a "strong-buy" rating in a research note on Monday, May 18th. Wall Street Zen lowered Sky Harbour Group from a "sell" rating to a "strong sell" rating in a research report on Saturday. Roth Capital reaffirmed a "buy" rating and issued a $12.50 target price on shares of Sky Harbour Group in a research note on Tuesday, August 18th. Finally, Weiss Ratings raised shares of Sky Harbour Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $12.75.

Sky Harbour Group Stock Performance

Shares of SKYH stock opened at $10.05 on Monday. Sky Harbour Group has a 52 week low of $8.22 and a 52 week high of $11.70. The stock has a market capitalization of $770.03 million, a PE ratio of -55.83 and a beta of 1.31. The stock's fifty day moving average is $10.46 and its 200-day moving average is $9.92.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The business had revenue of $0.01 million for the quarter, compared to analysts' expectations of $9.44 million. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%. As a group, analysts forecast that Sky Harbour Group will post -0.52 earnings per share for the current fiscal year.

Insider Transactions at Sky Harbour Group

In other news, Director Andrew Gessow bought 5,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $10.85 per share, for a total transaction of $54,250.00. Following the purchase, the director owned 22,910 shares of the company's stock, valued at approximately $248,573.50. The trade was a 27.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 40.70% of the company's stock.

Institutional Investors Weigh In On Sky Harbour Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altai Capital Management L.P. acquired a new stake in Sky Harbour Group in the second quarter valued at $7,039,000. RMR Capital Management LLC acquired a new stake in Sky Harbour Group in the 1st quarter valued at about $1,170,000. Vanguard Group Inc. grew its holdings in Sky Harbour Group by 1.3% during the third quarter. Vanguard Group Inc. now owns 1,175,780 shares of the company's stock worth $11,605,000 after purchasing an additional 15,250 shares during the period. State Street Corp grew its holdings in Sky Harbour Group by 2.5% during the fourth quarter. State Street Corp now owns 581,050 shares of the company's stock worth $5,212,000 after purchasing an additional 14,035 shares during the period. Finally, Geode Capital Management LLC increased its position in Sky Harbour Group by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 512,506 shares of the company's stock worth $4,598,000 after buying an additional 14,194 shares during the last quarter. 14.75% of the stock is currently owned by institutional investors and hedge funds.

About Sky Harbour Group

Sky Harbour Group Corporation NYSE: SKYH develops, owns and operates aviation infrastructure for business and private aviation. The company focuses on purpose-built “Hangar Campuses” that provide aircraft owners and operators with secure, high-quality facilities for storing and managing private aircraft.

Its campuses are designed to offer more than aircraft storage, incorporating amenities such as private hangars, pilot and passenger facilities, office space, and other services intended to support business aviation activity.

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